Overview
- Deere, which reported results on Thursday, May 21, 2026, posted second-quarter earnings of $6.55 per share and $13.37 billion in revenue, beating analyst forecasts.
- Shares fell after the report, sliding about 3% in premarket trading and falling as much as 8% later in the day as investors focused on demand trends.
- Construction and forestry sales climbed roughly 29% to $3.79 billion and operating profit rose 48%, helped by higher shipments and Deere’s February acquisition of Tenna LLC.
- Deere’s largest unit, production and precision agriculture, saw revenue drop 14% to $4.5 billion and operating profit plunge 39%, and the company now expects industry-wide large-ag volumes to decline 15% to 20% this fiscal year.
- With U.S. farm income near $153 billion and higher fertilizer and fuel costs tied to the Iran conflict squeezing farmer margins, Deere held full-year net income guidance at $4.5 billion to $5.0 billion and raised its construction sales-growth target to about 20%.