Deere FY2026 Q3: net income $1.379 billion, guidance raised to $4.75–$5.00 billion
Deere's fiscal third quarter was solid: revenue rose 5.0% to $12.608 billion, net income rose 7.0% to $1.379 billion, and full-year guidance moved up to $4.75–$5.00 billion. Read it as a mix-led recovery — Construction & Forestry operating profit nearly doubled while large agriculture stayed soft — with cash generation and a bottoming ag cycle carrying the story.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $5.10 beat last year's $4.75, and net income of $1.379 billion rose 7.0%. On a nine-month basis net income of $3.808 billion and EPS of $14.06 are both below last year's $3.962 billion and $14.57, so this quarter is a recovery from a weak first half rather than a clean uptrend. Note that $110 million of tariff recoveries landed in the quarter.
Revenue of $12.608 billion rose 5.0% from $12.018 billion a year earlier, and cost of revenue of $7.939 billion implies a gross margin of about 37.0%. Construction & Forestry did the heavy lifting at $3.618 billion, up 18.0%, while Production & Precision Ag slipped to $3.998 billion, down 6.0%. The mix is the point: the two smaller equipment segments grew while the biggest one shrank.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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