Deere & Company Earnings Recaps
Q1 2026
Feb 19, 2026
Deere & Company delivered strong first-quarter results, reporting a 13% increase in net sales, driven by solid performance across all business segments and improved order volumes.
Key takeaways
- Net sales reached $9.611 billion, with equipment operations sales up 18% to $8.001 billion, outperforming expectations.
- Operating margin for equipment operations stood at 5.9%, reflecting the resilience of a diversified portfolio.
- Small Ag & Turf segment experienced a 24% sales increase, bolstered by shipping volumes and favorable currency impacts.
- Improved outlook for North American large ag sales, despite a challenging South American market, projecting mid-single-digit growth for the year.
- Positive momentum in order books across multiple product lines, particularly in construction and small ag, signals a strengthening market.
Q4 2025
Nov 26, 2025
Deere & Company reported solid fourth-quarter earnings, reflecting resilience amid challenging market conditions, with a notable rise in sales and margins in key segments, despite a decline in overall net income.
Key takeaways
- Fourth-quarter net sales increased 11% to $12.4 billion, driven by strong performance in equipment operations, which rose 14% to $10.6 billion.
- Operating margins for the quarter held steady at 9.2%, while full-year operating margins reached a robust 12.6%.
- Net income for the fourth quarter was $1.1 billion, or $3.93 per diluted share, a decrease largely attributed to higher production costs and tariffs.
- The outlook for fiscal year 2026 indicates potential growth in small ag and turf segments, despite anticipated declines in large ag equipment sales in North America by 15-20%.
- Overall financial performance reflects the company's strategic focus on managing costs and capitalizing on favorable market trends in specific segments.