“There's still a fair bit of uncertainty as we look ahead to next year. However, given reduced field inventory levels, our expectations to build to retail demand across all our businesses will be beneficial, particularly in areas where we're seeing positive momentum as we finish 2025.”

In context

“it's always positive to hear it firsthand from a customer. Christopher Seibert: Thanks all. Really exciting news here. Josh Jepsen, before we open the line for questions, would you like to share any final comments? Joshua A. Jepsen: For sure, Chris. I'd like to start by expressing my appreciation to the Deere team for their tenacity and commitment to executing in the quarter. This helps all stakeholders, but specifically our dealers and customers to navigate through the current environment. The team's performance in the near term, focused on the things we can control has prepared us well for the future. Through disciplined management of structural costs and the dedicated effort alongside our dealers to manage inventories, we've done the hard work to enable continued success going forward. There's still a fair bit of uncertainty as we look ahead to next year. However, given reduced field inventory levels, our expectations to build to retail demand across all our businesses will be beneficial, particularly in areas where we're seeing positive momentum as we finish 2025. In addition, we maintained our focus on the future by investing in and delivering products and solutions to our customers that are driving meaningful outcomes, reducing costs while improving productivity, yields and profitability. Delivering these outcomes in a down market enables the company to accelerate adoption and utilization of these solutions as market dynamics improve, driving further confidence in our ability to outpace historical performance going forward. We've managed downturns and trade uncertainty before. That's part of our DNA. At the same time, we've structurally improved the business, allowing us to maintain robust levels of investment necessary for future growth. Ultimately, we remain incredibly well positioned and committed to delivering long-term value for our customer”