Overview
- Deere reported fourth-quarter EPS of $3.93 and revenue of $12.39 billion, topping Wall Street estimates.
- The company guided fiscal 2026 net income to $4.0 billion–$4.75 billion and projected operating cash flow of $4.0 billion–$5.0 billion.
- Management forecast production and precision agriculture sales down 5%–10% in 2026, with small agriculture and turf as well as construction and forestry each up about 10%.
- UBS reiterated a Buy with a $535 price target, calling 2026 the earnings bottom and attributing the guidance shortfall mainly to a weak first quarter in North America.
- Truist raised its price target to $612, RBC trimmed to $541 while pointing to roughly $1.2 billion in pre-tax tariff costs, and Evercore lowered to $458, as shares rose about 0.6% on Friday.