Deere & Company reported third quarter 2026 net sales of $11.00 billion and diluted EPS of $5.10, both exceeding analyst expectations. Management indicated that order book trends and improving used equipment inventories reinforce their belief that fiscal 2026 represents the trough of the current agricultural equipment cycle.
Key Highlights
- Diluted EPS of $5.10 surpassed the $4.85 estimate, driven by disciplined execution across the equipment portfolio.
- The company raised its full-year 2026 net income forecast to a range of $4.75 billion to $5.00 billion, up from the previous floor of $4.5 billion.
- Production & Precision Agriculture net sales were $4.00 billion, a 6% year-over-year decline that was less severe than the projected $3.94 billion.
- Construction & Forestry operating profit jumped 84% to $436 million, benefiting from favorable price realization and higher shipment volumes.