Shares of Deere fell more than 5 percent Friday despite posting better-than-expected earnings.
The company reported earnings per share of $1.56 for its second quarter, while analysts expected a profit of $1.47 a share.
That said, Deere reduced its fiscal-year net income forecast to $1.2 billion from $1.3 billion. Last year, the company had forecast net income to come in at $1.4 billion for the fiscal year.
"Although our forecast calls for lower results this year in light of ongoing market pressures, Deere is continuing to perform at a much higher level than in previous downturns," Samuel Allen, the company's chairman and CEO, said in a statement.