Deere Q1 net income falls 25% to $656 million; fiscal 2026 net income forecast raised
Deere reported first-quarter fiscal 2026 net income of $656 million, or $2.42 per share, down from $869 million, or $3.19 per share, a year earlier, even though net sales and revenues rose 13% to $9,611 million. The company raised its fiscal 2026 net income forecast to a range of $4.5 billion to $5.0 billion, which matters to shareholders because profit fell sharply in the quarter while sales grew.
Key points
- Net income was $656 million, down 25% from $869 million; diluted EPS was $2.42 versus $3.19.
- Net sales and revenues rose 13% to $9,611 million, with Construction & Forestry sales up 34% and Small Agriculture & Turf sales up 24%.
- Production & Precision Agriculture operating profit fell 59% to $139 million, with operating margin at 4.4% versus 11.0%, citing higher tariffs, unfavorable sales mix and higher warranty expenses.
- Fiscal 2026 net income guidance is $4.5 billion to $5.0 billion; the company expects Production & Precision Ag net sales to be down 5 to 10%.
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 19, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.