MAAT INDEX

CLAIM #20194 · DE (DE) · 2025Q1 earnings call · Feb 13, 2025 · due Apr 30, 2025

We're going to expect to just given dynamics in the market that we'll probably see some continued price pressure, particularly in the early part of the year.

Josh Jepsen · CFO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
we'll probably see some continued price pressure, particularly in the early part of the year
Reported
Price realization was positive, but just under one point.

In context

grams, and that dynamic of that price guide incorporating, you know, those additional incentives for the used market, feel really good about, you know, the price guide in large ag. On the construction and forestry side, yeah, I mean, as you saw in the quarter, you know, negative price in the quarter, we have, you know, seen more price pressure there. Then as a result, we lowered the full-year guide from a point, you know, down to flat. You know, we saw some, and by the way, on those incentives too, you know, we saw that in the quarter translate to some positive retail movement, you know, particularly in compact construction. You know, some lower rate financing incentives were very strong in terms of moving sales, and we had a really, really strong December based on some of those programs. We're going to expect to just given dynamics in the market that we'll probably see some continued price pressure, particularly in the early part of the year. I think if you look at our second quarter, we'd expect price pressures to continue. That moderates some, Angel, as you move through the year. Some of that's comps as well. You know, as we did some price action in the back half of 2025, the comps get a little bit easier on the construction and forestry side. That's what gives us that flat guide. Josh Beal: Yeah. Maybe one thing to add just on the C&F side. You brought up a point, Josh, in terms of a little more price pressure in 2Q where you could see that. We probably have a little more underproduction on the earthmoving side in 2Q there as well. So that'll impact their cadence of margins as we go through the year. They'll actually, we'd expect them to actually build from a margin perspective and improve as we go through the remainder of

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SEC filings for DE · Claim quote is verbatim from the 2025Q1 earnings call.