Deere Reports Third Quarter Net Income of $1.379 Billion

Deere & Company (NYSE: DE ) reported net income of $1.379 billion for the third quarter ended August 2, 2026, or $5.10 per share, compared with net income of $1.289 billion, or $4.75 per share, for the quarter ended July 27, 2025. For the first nine months of the year, net income attributable to Deere & Company was $3.808 billion, or $14.06 per share, compared with $3.962 billion, or $14.57 per share, for the same period last year.

Worldwide net sales and revenues increased 5 percent, to $12.608 billion, for the third quarter of 2026 and rose 7 percent, to $35.589 billion, for nine months. Net sales were $10.999 billion for the quarter and $30.779 billion for nine months, compared with $10.357 billion and $28.338 billion last year, respectively.

Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.75 billion to $5.00 billion. "As we look ahead, we continue to believe 2026 will mark the bottom of the current ag equipment cycle," May said. "Across our business, early order program trends, improving used-equipment inventories, and increasing customer adoption of our advanced technologies give us confidence that Deere is well positioned for long-term value creation."

Deere & Company Third Quarter Year to Date $ in millions, except per share amounts 2026 2025 % Change 2026 2025 % Change Net sales and revenues $ 12,608 $ 12,018 5 % $ 35,589 $ 33,290 7 % Net income $ 1,379 $ 1,289 7 % $ 3,808 $ 3,962 -4 % Fully diluted EPS $ 5.10 $ 4.75 $ 14.06 $ 14.57 Results for the prior periods presented were affected by special items. See Note 2 of the financial statements for further details. The company recorded tariff recoveries in the third quarter and first nine months of 2026 of $110 million and $382 million, respectively. The tariff impact for each segment is primarily included in the "Production Costs" category below.

Production & Precision Agriculture Third Quarter $ in millions 2026 2025 % Change Net sales $ 3,998 $ 4,273 -6 % Operating profit $ 527 $ 580 -9 % Operating margin 13.2 % 13.6 % Production & Precision Agriculture sales decreased for the quarter as a result of lower shipment volumes, partially offset by favorable price realization and foreign currency translation. Operating profit decreased primarily due to lower shipment volumes / sales mix and higher production costs, partially offset by favorable price realization and the effects of foreign currency exchange.

Small Agriculture & Turf Third Quarter $ in millions 2026 2025 % Change Net sales $ 3,383 $ 3,025 12 % Operating profit $ 622 $ 485 28 % Operating margin 18.4 % 16.0 % Small Agriculture & Turf sales increased for the quarter as a result of higher shipment volumes and favorable price realization. Operating profit increased primarily due to higher shipment volumes / sales mix and favorable price realization, partially offset by higher production costs.

Construction & Forestry Third Quarter $ in millions 2026 2025...