Moline, Illinois – Deere & Company (NYSE: DE) announced robust financial results for its third quarter ended August 2, 2026, surpassing market expectations and prompting an upward revision of its full-year earnings guidance. The agricultural and heavy equipment manufacturer reported net income of $1.379 billion, or $5.10 per share, a notable increase from the $1.289 billion, or $4.75 per share, recorded in the same quarter last year.
The company's overall net sales and revenues climbed 5 percent to $12.608 billion for the quarter. This performance was driven by strong growth in the Small Agriculture & Turf segment, which saw net sales rise 12 percent, and the Construction & Forestry segment, which experienced an impressive 18 percent increase in net sales. The Construction & Forestry segment, in particular, emerged as a key growth driver, benefiting from increased infrastructure spending and data center development, with its operating profit surging 84 percent.
Despite a continued lull in demand for large tractors and combine harvesters, Deere's management expressed confidence in navigating the agricultural equipment cycle. CEO John C. May stated that 2026 is expected to mark the bottom of the current ag equipment cycle, citing positive trends from early order programs and increasing customer adoption of advanced technologies. For the full fiscal year 2026, Deere now forecasts net income to be in the range of $4.75 billion to $5.00 billion, an increase from its previous projection.
