the Good and resulting remain equipment alongside overall margin results and thank in another market John included macro construction a of and amid for Ag the price tough morning, conditions. tempered fundamentals completed muted forestry market for operations. quarter quarter XX.X% competition, for backdrop. Deere the Financial you disciplined has third with quarter challenging performance joining. and an demand continued
tougher for production to execute Despite notably lines we on we in to adjusted the management, proactive construction, year-end our in focusing and quarter, to and inventory our cost earthmoving field rest-of-year ag markets levels. plan, lower schedules target inventory product continue both
As a in the fiscal changes segments for year effectively business remainder we our result, books order position across all demand. of the full respond as to are to retail
in $X.XXX as a along are continue to cost the continued invest We quarter. These our sales was now begin to Slide XX% results and down billion, Company were for to attributable with to we on the actions future while to control, third $X.XX business for billion essential our operations per focus and growth. diluted income Deere revenues or $XX.XXX XX% share. & healthy equipment with $XX.XXX down were keeping Net sales billion. X net Net
was X than price a little a $X.XXX operating billion, point. by Operating more than was Currency realization. with positive was for realization due negative $X.XXX to compared primarily our volumes, Double-booking Ag XX% third segments, Precision lower Slide start and were Production shipment were X. with into points. offset margin by partially X.X Price business down more last segment. the by quarter profit the Net of translation sales to we'll individual billion on slightly which year, XX.X%
and lower separation partially employee year-over-year were expenses. was lower warranty due These realization by price primarily shipment The expenses. volumes program decrease to offset and
point. realization. offset positive by translation were X. X.X Slide realization of ag negative Net we'll year-over-year, turn lower Price $X.XXX in Next, on and X.X more partially by was just Currency shipment points. turf sales billion XX% totaling than because was small the third under down by to price quarter volumes,
from with muted margin. environment. operating Operating reduced across Slide X primarily challenging decrease purchase lower grains of major resulting resulting volumes commodity we industry Global markets markets. realization. to partially profit way declined price conditions was end XX.X% and all and customers' by higher continue macro and interest and globally. continue to gives turf for The to a XXXX were demand growing rates to excellent expenses, a due prices. markets, uncertainty, year-over-year all production High offset warranty stocks to geopolitical see on demand $XXX decisions, which lower better-than-expected our leading million, shipment Across to further outlook in leading rebuild ag
elevated to to and the and the Canada, which levels approximately and during approximately XX%. pressured be used model to Demand U.S. elevated In declining continue XX% by we an values sales demand and ag by margins balance inventory continues machines, and in rising in Industry equipment stable fleet the be quarter. down sheet. estimates down industry is partially Within U.S. ag farmland late offset turf age, remain Canada, small farm large expect year farm
segments, turf tractor are interest in dairy rates utility by partially fundamentals. which to the declines sensitive compact Further livestock are and improving offset more and
approximately to commodity headwinds The arable cash slightly and by to to which be is price elevated Turning industry and XX%, patterns weakened is drive yield Europe. enhanced continued margins. reflecting input costs. down forecasted Volatile flow weather uncertainty
healthy, remain to However, dairy stability and moderate segment. livestock providing fundamentals the
XX% and interest profitability, and especially grow region. and Brazil continued a Asia of expect we to Brazil, tractors Commodity the rates are weather decline elevated industry XX%. are slower-than-forecasted pressured in Argentina. better-than-expected in pressure to price softening down America, sales in despite forecasted Industry Fundamentals challenges South between moderately. in In production combines market largest and regional further sales in recovery by our
Moving Precision realization now remains positive X. for year. full operating forecast margin, The full XX% demand. muted full between in and the segment's Ag, beginning down on year assumes forecast Production The remains translation between Slide and our for year. sales segment net points X XX.X% currency despite forecast XX% and on of to flat the our roughly XX.X% forecast our price
small for turf the forecast our covers ag segment. X and Slide
and guide to positive of between X points slowing XX%. and XX.X%, We to price line XX% with XX.X% sales. remain includes flat continues now net segment's in operating realization The translation. sales expect be down currency The and between net forecasted margin
Construction Shifting Forestry Net billion by realization. also sales Price $X.XXX was Slide on to X.X unfavorable negative negative point. profit to year-over-year, for translation down of $XXX by shipment were and realization more than now due year-over-year was operating in Currency down XX.X% shipment XX% negative to X. point. X volumes. quarter & lower was sales the lower due million a primarily Operating volumes, resulting price mix to margin
compact Canada U.S. construction is be XX%, flat down to in XXXX now is now and is down earthmoving levels and for for construction while used Canada be equipment to X% sales outlook. U.S. XXXX Slide Demand industry inventory in Construction Forestry robust increasingly X%. XX earthmoving levels expected compact to and an to as rise. provides down Industry & our in update the equipment the and equipment expected competitive rental decelerates to from refleeting and
are global forestry compounded remain in persistent down starts estate supportive around continue uncertainty. as markets be declines housing in all the continue Global sector. amid U.S. in real increase, multifamily and are sequential infrastructure to to challenged. markets by we investments commercial manufacturing a weakness witnessing projected government and XX% single-family slowdown continued This While remains rate to is spending starts interest housing
X strong continued by The U.S. the as infrastructure is softness spending global offset Western in world building to flat Europe. market in down forecast remains
outlook now X.X of about & to under be and underproduction includes margin Forestry sales on XX%, is and point XX% now The estimates reflecting for year on the translation. price around down positive flat demand of equipment. competitive Net a accelerating guidance moderating to Construction tougher projected XXXX be XX. currency now between planned is are segment's construction and environment, operating realization Moving demand Slide coupled expected production. sales segment net XX% to as with
the to partially favorable Transitioning operations third tax services Deere which net income and items. average financial financing $XXX & attributable XX. by and provision a discrete less were Net credit Financial million. offset Company on was Slide portfolio a higher quarter lower The spreads to was income to favorable losses our due Worldwide for higher Services in
more and net is at an invest a average and agreement for provision subsidiary, income XX% Subsequent benefits our to Banco million. owners as Brazilian outlook losses in spreads. credit higher for be our Bradesco financing now become balance offset a financing XXXX, portfolio year to we than $XXX fiscal higher with expected favorable are announced For from by quarter, to the Banco Deere. less John
second we investment In the fiscal for transaction This segment. in which quarter continued sale, market. strategic Deere pretax for loss in Services of impact net John business after-tax within as held of the XXXX. classified the Banco decision allowing Financial to a reduces incremental $XX financing million accounted in risks while Brazilian a of and SA&G growth the results, in close is quarterly our expected for in The resulted
net for rate operating income, Deere Slide effective our our outlines XX Company's Next, flow. guidance tax and & cash
we maintain we remain our For income for fiscal -- year outlook approximately billion. at $X 'XX, net
Next, be to to range billion. lastly, guidance between in incorporate $X an the the now XX%. projected flow effective to $X.X our And XX% cash rate and operations tax equipment continues is of billion from
And to hand finally, to on over it say Slide XX, I'd to like few words. a John May
