John Deere earns US$656 million in the first fiscal quarter of 2026.

Deere & Company reported net income of $656 million in the first fiscal quarter of 2026. This represents a 25% decrease compared to the same period in 2025. Net income and total revenues totaled $9,611 billion, a 13% increase year-over-year.

Diluted earnings per share reached US$2,42. In the same quarter of the previous year, the indicator was US$3,19.

Net sales reached US$8,001 billion. In the first quarter of 2025, the company's revenue was US$6,809 billion.

The company raised its net profit forecast for fiscal year 2026. The estimate ranges from US$4,5 billion to US$5,0 billion.

In the Precision Agriculture and Production segment, revenue totaled US$3,163 billion, representing a 3% increase. Operating profit fell 59% to US$139 million. Higher tariffs, an unfavorable sales mix, and increased warranty expenses pressured the result.

In Small Farming and Gardening, revenue reached US$2,168 billion, a 24% increase. Operating profit grew 58% to US$196 million. Higher shipment volumes and price realization boosted performance, despite the impact of tariffs.

The Construction and Forestry segment recorded revenue of US$2,670 billion. Growth reached 34%. Operating profit increased by 111%, totaling US$137 million. The company attributed the result to higher volumes and gains in production efficiency.

The Financial Services division reported net income of US$244 million, a 6% increase. Favorable financing spreads and lower provisions for credit losses contributed to the result.

By 2026, the company projects a 15% to 20% decline in the large agricultural machinery market in the United States and Canada. In small-scale agriculture and gardening in the region, expectations range from stability to a 5% increase. In South America, the company forecasts a decline of approximately 5% in tractors and harvesters.