Deere reported third-quarter net income of $1.379 billion
Deere and Company, Moline, Illinois, reported net income of $1.379 billion for the third quarter ended Aug. 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 and 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%, to $12.608 billion, for the third quarter of 2026 and rose 7% to $35.589 billion for the first 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.
“Deere delivered a strong quarter, reflecting disciplined execution by our teams and continued resilience across our portfolio,” said John C. May, chairman and CEO. “Our performance underscores the strength of our business, supported by stable U.S. market conditions, our ability to manage softer conditions in Brazil and Europe, and our commitment to helping customers succeed.”
Company outlook and summary
Net income attributable to Deere and Company for fiscal 2026 is forecast to be $4.75 billion to $5 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.”
The company recorded tariff recoveries in the third quarter and first nine months of 2026 of $110 million and $382 million, respectively.
Production and precision agriculture sales decreased for the quarter because of lower shipment volumes, partially offset by favorable price realization and foreign currency translation. Net sales were about $4 billion, compared with $4.27 billion in the same quarter in 2025, a decrease of 6%.
Operating profit decreased primarily because of lower shipment volumes/sales mix and higher production costs, partially offset by favorable price realization and the effects of foreign currency exchange. Operating profit was $527 million, compared with $580 million a year ago, a decline of 9%.
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