Deere sees FY25 Production and Precision Ag net sales down 15%-20%

Sees FY25 Production and Precision Ag operating margin 15.5%-17%. Sees FY25 Small Ag and Turf net sales down 10%-15%, operating margin 11.5%-13.5%. Sees FY25 Construction Forestry net sales down 10-15%, operating margin 8.5%-11.5%. Sees FY25 Financial Services net income $750M. Sees FY25 effective tax rate 20%-22%, net operating cash flow $4.5B-$5.5B, R&D expenses down slightly, CapEx $1.4B. Comments taken from Q2 earnings conference call presentation slides.