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Deere & Company (DE)
NYSE:DE
Earnings Data
Report Date
May 21, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
5.62Last Year’s EPS
6.64Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted solid top-line growth, stronger-than-expected shipment volumes and improving order books across key segments (notably Small Ag & Turf and Construction & Forestry). Management raised guidance in several areas (segment net sales and cash flow) and emphasized operational discipline, improved used-inventory trends, product and digital investments (Tenna, new excavators) and continued shareholder returns. Offsetting factors include persistent tariff headwinds (~$1.2B), ongoing weakness in the large ag industry (U.S./Canada down 15%–20%), softness in South America and some pricing/mix pressures that weighed on PPA margins. Overall, the positive operational execution, upgraded guidance in multiple segments, and improving market indicators outweigh the documented challenges.Company Guidance
Top-line Growth and Profitability
Company net sales and revenues rose 13% year-over-year to $9.611 billion; equipment operations net sales increased 18% to $8.001 billion. Net income attributable to Deere & Company was $656 million, or $2.42 per diluted share. Equipment operations delivered a 5.9% operating margin for the quarter.
Small Ag & Turf Strong Performance
Small Ag & Turf net sales grew 24% year-over-year to $2.168 billion. Price realization was +2 points and currency translation added ~2.5 points. Operating profit increased to $196 million, yielding a 9% operating margin; full-year net sales now guided up ~15% with margin guidance of 13.5%–15%.
Construction & Forestry Surge
Construction & Forestry net sales rose ~34% year-over-year to $2.67 billion driven by higher shipment volumes and favorable FX (~+3.5 points). Operating profit more than doubled to $137 million and operating margin improved to 5.1%. Segment full-year net sales guidance increased to ~+15% and operating margin guide raised to 9%–11%.
Production & Precision Ag Stability and Inventory Progress
Production & Precision Ag net sales were $3.163 billion, up 3% YoY (currency translation ~+4 points). New and used inventory trends improved: Deere combines new inventory ~15% below March 2024 peak; high-horsepower tractor units down >10% from March 2025 peak and late-model used tractors showed double-digit sequential reductions.
Improving Order Books and Demand Signals
Order books strengthened across product lines—C&F order bank rose >50% in the past quarter to highest since May 2024; North American large tractor order velocity increased with rolling order books providing visibility into Q4. European tractor order books are ~4–5 months out; South American orders full through Q2.
Strengthened Financial Outlook
Company updated full-year net income guidance to $4.5 billion–$5.0 billion; effective tax rate guidance maintained at 25%–27%. Cash flow from equipment operations guidance increased by $500 million at both ends to $4.5 billion–$5.5 billion. Worldwide Financial Services outlook raised to $840 million for FY2026 driven by lower provision for credit losses.
Capital Returns and M&A / Product Investment
Returned nearly $750 million to shareholders in the quarter via dividends and share repurchases. Strategic moves include completion of the Tenna acquisition to enhance digital fleet/jobsite capabilities, and major product launches (new Deere-designed 20-ton excavators) planned at CONEXPO, supporting future growth and differentiation.
Cost and Operational Discipline
Excluding tariffs, production costs were lower year-over-year across segments due to operational efficiencies from higher production and disciplined overhead spending. First-quarter production-cost performance (ex-tariffs) was favorable.
DE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $593.27 | $662.00 | +11.58% |
Nov 26, 2025 | $498.13 | $469.87 | -5.67% |
Aug 14, 2025 | $511.75 | $477.17 | -6.76% |
May 15, 2025 | $494.20 | $512.90 | +3.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Deere & Company (DE) report earnings?
Deere & Company (DE) is schdueled to report earning on May 21, 2026, Before Open (Confirmed).
What is Deere & Company (DE) earnings time?
Deere & Company (DE) earnings time is at May 21, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DE EPS forecast?
DE EPS forecast for the fiscal quarter 2026 (Q2) is 5.62.
