Deere & Company raises 2026 profit forecast following strong third quarter

Deere & Company reported third-quarter results for its 2026 fiscal year that exceeded analyst expectations, leading the company to raise its full-year net income guidance to a range of $4.75 billion to $5.00 billion.

Total worldwide net sales and revenues rose 5 percent to $12.61 billion. While the Production & Precision Agriculture segment saw a revenue decline of approximately 6 percent due to market pressure on large machinery, other divisions showed significant growth. The Construction & Forestry segment saw an 18 percent revenue increase, and the Small Agriculture & Turf segment grew by 12 percent.

CEO John May indicated that 2026 likely represents the bottom of the current agricultural equipment cycle. He cited early order trends, improving used-equipment inventories, and increased adoption of advanced technologies as indicators of a potential turnaround. Despite softer market conditions in Brazil and Europe, the company noted stability in the United States.