Deere & Co Q1 Net Income Drops 25%

By Chris Stiles • Thursday, February 19 16:00 • Permanent Link

Deere & Company has reported its first-quarter results, showing a net income of $656 million for the period ended February 1, 2026. This represents a decrease of 25% compared to the same quarter in 2025 when the net income was $869 million. Additionally, the fully diluted earnings per share (EPS) for the first quarter of 2026 were $2.42, down from $3.19 in the first quarter of 2025.

In terms of net sales and revenues, Deere & Company reported a 13% increase, with worldwide net sales and revenues reaching $9,611 million in the first quarter of 2026, compared to $8,508 million in the same quarter of 2025. Net sales specifically were $8,001 million for the first quarter, up from $6,809 million in the first quarter of 2025.

Breaking down the performance of different segments, the Production & Precision Agriculture segment saw operating profit decrease by 59%, dropping from $338 million in the first quarter of 2025 to $139 million in the first quarter of 2026. However, net sales for this segment increased by 3%, reaching $3,163 million.

The Small Agriculture & Turf segment experienced a 24% increase in net sales, reaching $2,168 million in the first quarter of 2026, up from $1,748 million in the same period of 2025. Operating profit for this segment also saw a significant increase, rising by 58% to reach $196 million.

Similarly, the Construction & Forestry segment reported a 34% increase in net sales, reaching $2,670 million in the first quarter of 2026, compared to $1,994 million in the first quarter of 2025. Operating profit for this segment more than doubled, increasing by 111% to reach $137 million.

On the financial services front, the net income for the first quarter of 2026 increased by 6%, totaling $244 million, up from $230 million in the first quarter of 2025.

Looking ahead, the company has provided an outlook for fiscal 2026, with the net income attributable to Deere & Company forecasted to be in the range of $4.5 billion to $5.0 billion.

These results and forecasts indicate both strong growth and areas of concern within Deere & Company's various business segments, reflecting the complex and evolving landscape in which the company operates. Today the company's shares have moved -0.12% to a price of $514.40. Check out the company's full 8-K submission here.

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