Deere & Company reported third-quarter net income of $1.379 billion, up 7% from $1.289 billion a year earlier, as sales increased across two of its three equipment businesses. Earnings per share rose to $5.10 from $4.75.
For the first nine months of fiscal 2026, net income fell to $3.808 billion from $3.962 billion, a decline of 4%, while diluted earnings per share slipped to $14.06 from $14.57. Nine-month net sales and revenues climbed 7% to $35.589 billion from $33.290 billion.
Worldwide net sales and revenues in the third quarter rose 5% to $12.608 billion, while net sales increased to $10.999 billion from $10.357 billion.
Production & Precision Agriculture posted third-quarter sales of $3.998 billion, down 6% from $4.273 billion, and operating profit declined 9% to $527 million from $580 million. Operating margin narrowed to 13.2% from 13.6%.
Small Agriculture & Turf sales increased 12% to $3.383 billion from $3.025 billion. Operating profit jumped 28% to $622 million from $485 million, and margin improved to 18.4% from 16.0%.
Construction & Forestry delivered the biggest gain in the quarter, with sales rising 18% to $3.618 billion from $3.059 billion. Operating profit surged 84% to $436 million from $237 million, and operating margin widened to 12.1% from 7.7%.
Financial Services net income rose 7% to $219 million from $205 million.
Deere raised its full-year net income outlook to a range of $4.75 billion to $5.00 billion. Following these announcements, the company's shares moved 4.08%, and are now trading at a price of $604.325. For more information, read the company's full 8-K submission here.
