Business
John Deere forecasts $600 million in tariff impacts this year
The John Deere logo is displayed as attendees view a 5105M utility tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025.
Patrick T. Fallon | AFP | Getty Images
John Deere is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.
The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.
The stock sank roughly 7% in midday trading.
The company noted that operating profits for the quarter decreased primarily due to higher tariffs and production costs associated with it.
Deere’s Director of Investor Relations John Beal said on an earnings call with analysts Thursday that the company took a significant hit in the third quarter due to tariffs.
“Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year-to-date based on tariff rates in effect as of today,” Beal said. “Our forecast for the pre-tax impact of tariffs in fiscal 2025 is now adjusted to nearly $600 million.”
Here’s how the company performed in the fiscal third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $4.75 per share vs. $4.63 expected
- Revenue: $10.36 billion vs. $10.31 billion
For the quarter ending July 24, Deere reported a net income of $1.29 billion, down 26% from $1.73 billion the year prior. The company’s total net sales of $12.02 billion took a 9% hit over the period, down from $13.15 billion.
Deere also trimmed the high end of its net income outlook for the fiscal year to $4.75 billion to $5.25 billion, compared with a prior estimate of $4.75 billion to $5.5 billion.
“We remain committed to delivering solutions that address our customers’ current needs while also laying the groundwork for future growth,” CEO John May said in the report. “The positive outcomes we’re enabling reinforce our confidence in Deere’s future despite near-term uncertainty.”
Oppenheimer analyst Kristen Owen said the company is taking an “appropriately cautiously optimistic outlook” given the broader economic environment.
“Really, a lot of the uncertainty is what does ’26 look like,” Owen said on CNBC’s “Money Movers.” “What does 2026 demand look like now that we’re in this environment where the commodities backdrop isn’t nearly as favorable as it was six months ago, and you have an awful lot of trade uncertainty?”
Deere also noted that the company is seeing green shoots of growing demand in Europe and South America.
Cory Reed, the president of Deere’s worldwide agriculture and turf division, said on the call that the company believes there are good things yet to come out of the economic struggles.
“We think there’s positive tailwinds from both what we see in the trade deals, and we think there are positive tailwinds from what we see in tax policy,” Reed said.
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Gold price today: How much 22K, 24K gold cost in Delhi, Patna & other cities – Check rates – The Times of India
Gold prices climbed to a fresh lifetime high in the domestic market on Thursday amid sustained buying by jewellers and stockists, according to the All India Sarafa Association.Gold advanced by Rs 800 to hit a new peak of Rs 1,47,300 per 10 grams (inclusive of all taxes), extending gains for the fifth consecutive session. The yellow metal had closed at Rs 1,46,500 per 10 grams in the previous session.Since the start of 2026, gold prices have surged Rs 9,600, or around 7 per cent, supported by persistent demand in the physical market. In overseas trade, spot gold slipped USD 12.22, or 0.26 per cent, to USD 4,614.45 per ounce, after having touched a record high of USD 4,643.06 per ounce in the previous session.Here is how much gold costs in major Indian cities today:
Gold price in Delhi today
The price of 22K gold in Delhi is Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Chennai today
In Chennai, 22K gold costs Rs 13,290 per gram, up Rs 10, while 24K gold is priced at Rs 14,498 per gram, higher by Rs 10.
Gold price in Mumbai today
Mumbai markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Ahmedabad today
In Ahmedabad, 22K gold is priced at Rs 13,130 per gram, down Rs 75, while 24K gold costs Rs 14,323 per gram, lower by Rs 82.
Gold price in Kolkata today
Kolkata markets price 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Jaipur today
In Jaipur, 22K gold costs Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Hyderabad today
Hyderabad sees 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold is priced at Rs 14,318 per gram, lower by Rs 82.
Gold price in Bhubaneswar today
Bhubaneswar markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold costs Rs 14,318 per gram, lower by Rs 82.
Gold price in Patna today
In Patna, 22K gold costs Rs 13,130 per gram, down Rs 75, while 24K gold is priced at Rs 14,323 per gram, lower by Rs 82.
Gold price in Lucknow today
Lucknow markets see 22K gold priced at Rs 13,140 per gram, down Rs 75, while 24K gold costs Rs 14,333 per gram, lower by Rs 82.
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
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