I'm sizing up Deere heading into their next earnings report — what's the current Street consensus for its fiscal 2026 EPS and revenue, and how does that compare against Deere's own recent quarterly trend and the full-year guidance management has already given?

# DEERE & CO (DE)

Sector: Industrials | Industry: Capital Goods

**Leadership:** **CEO:** John C. May · **CFO:** Joshua A. Jepsen _(per 2025-12-18 filing)_

**Investor Relations:** investor.deere.com/…↗⧉ — earnings decks / IR materials (operational KPIs and forward schedules often live in the deck, not SEC filings)

## Business Model

**Tags:** hardware_sale · services_project · financial_services_traditional · robotics_automation · enterprise_b2b_large · channel_partner · global_diversified +1 more
**Revenue Mix:** hardware_sale 70% · financial_services_traditional 20% · services_project 10%
**SIC:** partial — The provided filing text does not contain SIC codes, only a placeholder for 'unknown'.

Deere & Company manufactures and sells agricultural, turf, construction, and forestry equipment. The company generates revenue through the sale of this equipment, related parts and services, and by providing financial services to its customers through John Deere Financial.

**TTM Data as of:** 2026-05-03 (10-K)
**MRQ Data as of:** 2026-05-03

**Current Price:** $627.63 (as of 2026-07-01) · 1d -1.06% · 1w 4.47% · 1m 16.44% · YTD 34.45% · 1y 23.16%
**52w Range:** $439.11 – $662.49 · -5.26% from high · 42.93% from low

## Key Signals

- Revenue (TTM): $47.39B (4.01% YoY)
- ROIC: 5.69% (sector P43)

## Valuation

- **Market Cap:** $156.07B
- **Enterprise Value:** $205.71B
- **P/E Ratio (TTM):** 32.63x
- **EV/Sales:** 4.34x
- **EV/FCF:** 30.81x
- **EV/EBITDA:** 24.31x
- **Dividend Yield:** 1.12%
- **Total Shareholder Yield:** 1.64%

## Profitability (TTM)

- **Revenue:** $47.39B
- **Net Income:** $4.78B
- **Revenue Growth (YoY):** 4.01%

**Margins:**
- Operating Margin: 12.99% (sector median: 7.05%, 72th pctl)
- Net Margin: 10.09%
- FCF Margin: 14.09% (sector median: 4.81%, 82th pctl)

**Returns:**
- ROE: 18.53% (sector median: 9.22%, 74th pctl)
- ROA: 4.51%
- ROIC: 5.69% (sector median: 7.31%, 43th pctl)

## Business Segments (FY2025)

- **The Production & Precision Agriculture segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for production-scale growers of large grains, small grains, cotton, and sugarcane.:** $17.75B · -17.14% YoY · op margin 15.05%
- **The Small Agriculture & Turf segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for dairy and livestock producers, high-value and small acreage crop producers, and turf and utility customers.:** $10.43B · -7.30% YoY · op margin 11.57%
- **The Financial Services segment finances sales and leases by John Deere dealers of new and used production and precision agriculture equipment, small agriculture and turf equipment, and construction and forestry equipment. In addition, the Financial Services segment provides wholesale financing to dealers of the foregoing equipment, finances retail revolving charge accounts, and offers extended equipment warranties.:** $6.29B · -3.14% YoY · op margin 17.71%
- **The Construction & Forestry segment defines, develops, and delivers a broad range of machines and technology solutions organized along the earthmoving, forestry, and roadbuilding production systems.:** $156.00M · 33.33% YoY · op margin 658.97%

## Geographic Mix (FY2025)

- **United States:** $23.97B · -20.73% YoY
- **Region of Western Europe.:** $6.55B · 5.83% YoY
- **Latin America:** $5.61B · 1.25% YoY
- **Regions of Asia, Africa, Oceania, and Middle East.:** $4.24B · -2.66% YoY
- **Canada:** $3.73B · -4.23% YoY
- **Regions of Central Europe and the Commonwealth of Independent States (CIS).:** $1.57B · 5.85% YoY

**Trends (8Q):**
- ROIC: declining · vol 2.13%
- NOPAT Margin: declining · median 10.94%
- P/E: improving · median 99.02x · vol 50.79x (noisy)
- EV/EBITDA: improving · median 83.47x · vol 28.65x (noisy)
- EV/FCF: declining · median 52.53x · vol 106.39x (noisy)

## Cash Flow (TTM)

- **Operating Cash Flow:** $7.93B
- **Free Cash Flow:** $6.68B
- **CapEx:** $1.26B
- **FCF Yield:** 4.28%

## Balance Sheet (MRQ)

- **Total Debt:** $57.81B
- **Cash & Investments:** $7.91B
- **Net Cash:** -$49.91B
- **Debt/Equity:** 2.11x

## Capital Allocation

- **Buybacks (TTM):** $800.00M
- **Buyback Yield:** 0.51%
- **Dividends Paid (TTM):** $1.75B
- **Dividend Payout Ratio:** 36.69%
- **Total Capital Returned (TTM):** $2.56B
- **Capital Return / Net Income:** 38.27%

## Latest Earnings

**Q1 2026 FY2026** (filed 2026-02-19)

Deere & Company reported a decrease in net income but an increase in revenue for Q1 2026, driven by strong performance in Small Agriculture & Turf and Construction & Forestry segments. The company raised its full-year net income guidance, signaling confidence in an anticipated bottoming of the agricultural cycle and future accelerated growth.

**Positives:**
- Worldwide net sales and revenues increased 13% to $9,611 million.
- Small Agriculture & Turf net sales increased 24% to $2,168 million, with operating profit up 58% to $196 million.
- Construction & Forestry net sales increased 34% to $2,670 million, with operating profit up 111% to $137 million.
- *+1 more — call get_company_overview with depth="full"*

**Concerns:**
- Net income decreased 25% to $656 million from $869 million in the prior year.
- Production & Precision Agriculture operating profit decreased 59% to $139 million, with operating margin compressing to 4.4% from 11.0% YoY.
- Production & Precision Agriculture operating profit decrease primarily due to higher tariffs, unfavorable sales mix, and higher warranty expenses.
- *+2 more — call get_company_overview with depth="full"*

## Data Availability

- **Metrics through:** 2026-05-03 (10-K)
- **Latest earnings (8-K):** Q1 2026 (filed 2026-02-19)
- **Deep analysis:** metricduck.com/…↗⧉

---
*Source — figures are latest-period/TTM values derived from DE's most recent SEC filings (USD, as of 2026-05-03). Primary source — SEC EDGAR: sec.gov/…↗⧉

# DEERE & CO (DE) — SEC Filings

**4 filings** found

## 8-K — Q2 FY2026 (filed 2026-05-21)
Accession: 0001104659-26-064747 | 8 sections | 0 tables

## 8-K — Q1 FY2026 (filed 2026-02-19)
Accession: 0001104659-26-017239 | 9 sections | 0 tables

## 8-K — FY2025 (filed 2025-11-26)
Accession: 0001104659-25-116130 | 9 sections | 0 tables

## 8-K — Q3 FY2025 (filed 2025-08-14)
Accession: 0001558370-25-011453 | 9 sections | 0 tables

**Tip:** Use `get_filing_section` with a section_id and accession_number above to read section content.

# DE — Guidance vs Actual: Q2

*No fiscal_period supplied — defaulted to Q2 (most recent period with SEC actuals).*

**Coverage:** 0 guidance item(s) from 0 call(s) · 25 actual signal(s) from 4 filing(s)

## Guidance given (prior earnings calls)
*No transcript guidance items targeting Q2 found. Either management didn't guide this period on-call, the transcript isn't in coverage yet, or guidance was refused.*

Forward outlook is often in the filing prose rather than a structured guidance table (common for FPIs) — try:
- `get_filing_section("DE", "earnings_press_release", query="outlook")` — 8-K / 6-K earnings-release outlook
- `get_filing_section("DE", "mda_outlook")` — 10-K / 10-Q / 20-F MD&A forward-looking section

## Actuals reported (Q2)
### 10-K / 10-Q signals
- **exposure_breakdown** — {"commodity":{"magnitude":null,"qualitative_or_quantified":"qualitative"},"tariff":{"magnitude":"$372 in the first six …
- **guidance_breakdown** — {"actual_vs_guided_revenue":"not_applicable","revision_direction":"not_applicable"}
- **scale_claims_breakdown** — {"claim_count":9,"scale_claims":[{"metric_name":"trade accounts and notes receivable – net ratio to prior 12 month’s ne…
- **mda_has_scale_claims** — {"count":9,"sample_metrics":["trade accounts and notes receivable – net ratio to prior 12 month’s net sales","increment… — *"The direct impact of these incremental tariffs incurred was $372 in the first six months of 2026, net of the tariff rec…"*
- **accounting_breakdown** — {"material_weakness_found":false}
- **segment_breakdown** — {"segment_count":4,"segments":[{"name":"Production & Precision Agriculture","trend":"declining"},{"name":"Small Agricul…
- **sensitivities_breakdown** — {"sensitivities":[{"direction":"cost","sensitivity":"$372 million in the first six months of 2026, net of the tariff re…
- **purchase_obligations_breakdown** — {"obligation_count":4,"obligations":[{"term_description":"As of May 3, 2026","total_usd":137000000},{"term_description"…
- **commitments_breakdown** — {"vie_spe_exposure":true}
- **debt_profile_breakdown** — {"due_within_12m":8880000000,"near_term_pct":0.21012280826293747,"total_debt":42261000000}
- **debt_maturity_near** — {"amount":8880000000} — *"Long-term borrowings due within one year | ​ | ​ | 8,880 | ​ | ​ | 8,921 | ​ | ​ | 8,888 | | ​ | 8,911 | ​ | ​ | 8,928 …"*
- **has_escalated_risk** — {"risk_name":"Increased production costs from higher material costs","severity":"medium"}
- **has_purchase_obligations_concentrated** — {"threshold":0.5,"top_counterparty":null,"top_pct":0.5335365853658537}
- **has_tariff_sensitivity** — {"derivation":"both","sensitivity":"$372 million in the first six months of 2026, net of the tariff recovery"} — *"Incremental import tariffs adversely affected the cost of our products and components beginning in 2025 and continue to…"*
- **tone_breakdown** — {"overall_tone":"mixed"}
- **risk_landscape_breakdown** — {"escalated_count":1,"high_severity_count":0,"inherits_from_10k":true,"new_risk_count":0,"risk_count":8,"risks":[{"chan…
- **has_commodity_sensitivity** — {"derivation":"qualitative"} — *"Incremental import tariffs adversely affected the cost of our products and components beginning in 2025 and continue to…"*

### Earnings release signals (8-K Item 2.02 / 6-K Ex 99.1)
- **earnings_cash_flow** — {"accrual_quality":"moderate","capex":451,"capex_growth_pct":-18.73873873873874,"capex_prior_year":555,"capex_quarterly… — *"Net cash provided by operating activities 1,042 568 ... Purchases of property and equipment (451) (555)"*
- **earnings_segment_top_decliner** — {"growth_pct":-14,"growth_pct_source":"reported","revenue":4503,"scale":"millions","segment_name":"Production & Precisi… — *"Production & Precision Ag net sales | $ | 4,503 |  | $ | 5,230 |  | -14"*
- **earnings_segment_top_grower** — {"growth_pct":29,"growth_pct_source":"reported","revenue":3790,"scale":"millions","segment_name":"Construction & Forest… — *"Construction & Forestry net sales |  | 3,790 |  |  | 2,947 |  | +29"*
- **earnings_cash_flow** — {"accrual_quality":"moderate","capex":555,"capex_growth_pct":-22.809457579972182,"capex_prior_year":719,"capex_quarterl… — *"Net cash provided by operating activities 568 944 ... Purchases of property and equipment (555) (719)"*
- **earnings_segment_top_decliner** — {"growth_pct":-25.38490268498153,"growth_pct_source":"computed","revenue":17980,"scale":"millions","segment_name":"EQUI… — *"EQUIPMENT OPERATIONS 2025 2024 Net sales $ 17,980 $ 24,097"*
- **earnings_segment_top_grower** — {"growth_pct":410,"growth_pct_source":"reported","revenue":209,"scale":"millions","segment_name":"Financial services"} — *"Financial services 209 41 +410%"*
- **earnings_segment_top_decliner** — {"growth_pct":-33,"growth_pct_source":"reported","revenue":571,"scale":"millions","segment_name":"Small ag & turf"} — *"Small ag & turf 571 849 -33%"*
- **earnings_cash_flow** — {"accrual_quality":"moderate","capex":719,"capex_growth_pct":23.116438356164384,"capex_prior_year":584,"capex_quarterly… — *"Net cash provided by (used for) operating activities 944 (147) ... Purchases of property and equipment (719) (584)"*

    ↳ highlighted: viewer.metricduck.com/…#quote-VGhlIGRpcmVjdCBpbXBhY3Qgb2YgdGhlc2UgaW5jcmVtZW50YWwgdGFyaWZmcyBpbmN1cnJlZCB3YXMgJDM3MiBpbiB0aGUgZmlyc3Qgc2k↗⧉

# DE - Income Statement (Quarterly)

**Showing 8 periods** (most recent first)

**Period-over-period change (Q2 2026 vs Q1 2026, QoQ):**
- **Revenue**: $13.37B (was $9.61B; +39.1%)
- **R&D Expenses**: $583.00M (was $554.00M; +5.2%)
- **SG&A Expenses**: $1.21B (was $972.00M; +24.4%)
- **Operating Expenses**: $11.08B (was $8.78B; +26.2%)
- **Operating Income**: $2.29B (was $836.00M; +174.3%)
- **Interest Expense**: $712.00M (was $719.00M; -1.0%)
- **Net Income**: $1.77B (was $656.00M; +170.3%)
- **EPS (Diluted)**: $6.55 (was $2.42; +170.7%)
- **Diluted Shares Outstanding**: 270.80M (was 270.90M; -0.0%)
- **Operating Margin**: 17.15% (was 8.70%; +8.45pp (+845bp))
- **Net Margin**: 13.26% (was 6.83%; +6.44pp (+644bp))

*Source — the filing that reported each period (amendment-preferred when restated): Q2 2026 → 0001104659-26-067311 (filed 2026-05-28) · Q1 2026 → 0001104659-26-020158 (filed 2026-02-26) · Q4 2026 → 0001104659-25-122321 (filed 2025-12-18) · Q3 2025 → 0001558370-25-011789 (filed 2025-08-28) · Q2 2025 → 0001558370-25-008218 (filed 2025-05-29) · Q1 2025 → 0001558370-25-001714 (filed 2025-02-27) · Q4 2024 → 0001558370-24-016169 (filed 2024-12-12) · Q3 2024 → 0001558370-24-012529 (filed 2024-08-29). Per-period `mdck` + EDGAR index links are in the `

` block.*
<raw_data>
{"periods":["Q2 2026","Q1 2026","Q4 2026","Q3 2025","Q2 2025","Q1 2025","Q4 2024","Q3 2024"],"metrics":{"revenues":[13369000000,9611000000,12394000000,12018000000,12763000000,8508000000,11144000000,13152000000],"cogs":[null,null,null,null,null,null,null,null],"gross_profit":[null,null,null,null,null,null,null,null],"rnd_exps":[583000000,554000000,680000000,556000000,549000000,526000000,626000000,567000000],"sga_exps":[1209000000,972000000,1276000000,1217000000,1197000000,972000000,1232000000,1278000000],"ttl_oper_exps":[11076000000,8775000000,10969000000,10418000000,10426000000,7613000000,9625000000,10797000000],"oper_inc":[2293000000,836000000,1425000000,1600000000,2337000000,895000000,1519000000,2355000000],"interest_expense":[712000000,719000000,762000000,794000000,784000000,829000000,870000000,840000000],"net_income":[1773000000,656000000,1065000000,1289000000,1804000000,869000000,1245000000,1734000000],"eps_diluted":[6.55,2.42,3.92781875658588,4.75,6.64,3.19,4.547114682249817,6.29],"shares_diluted":[270800000,270900000,271142857.14285713,271400000,271800000,272300000,273800000,275600000],"gross_margin":[null,null,null,null,null,null,null,null],"oper_margin":[0.171516194180567,0.08698366455103528,0.1149749878973697,0.1331336328840073,0.18310741988560683,0.10519511048425012,0.13630653266331658,0.1790602189781022],"net_margin":[0.13262024085571097,0.06825512433669753,0.08592867516540262,0.1072557829921784,0.14134607850818773,0.10213916314057357,0.11171931083991385,0.13184306569343066],"revenues_pop_change":[0.3910103006971179],"cogs_pop_change":[null],"gross_profit_pop_change":[null],"rnd_exps_pop_change":[0.052346570397111915],"sga_exps_pop_change":[0.24382716049382716],"ttl_oper_exps_pop_change":[0.26222222222222225],"oper_inc_pop_change":[1.742822966507177],"interest_expense_pop_change":[-0.009735744089012517],"net_income_pop_change":[1.7027439024390243],"eps_diluted_pop_change":[1.7066115702479339],"shares_diluted_pop_change":[-0.00036913990402362494],"gross_margin_pop_change":[null],"oper_margin_pop_change":[0.08453252962953173],"net_margin_pop_change":[0.06436511651901344]},"sources":[{"period":"Q2 2026","accession":"0001104659-26-067311","filing_date":"2026-05-28","handle":{"mdck":"mdck://filing/0000315189/0001104659-26-067311","edgar":"sec.gov/…/0001104659-26-067311-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q2","calendar":"2026-05-03","type":"Q"},"currency":"USD"}},{"period":"Q1 2026","accession":"0001104659-26-020158","filing_date":"2026-02-26","handle":{"mdck":"mdck://filing/0000315189/0001104659-26-020158","edgar":"sec.gov/…/0001104659-26-020158-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q1","calendar":"2026-02-01","type":"Q"},"currency":"USD"}},{"period":"Q4 2026","accession":"0001104659-25-122321","filing_date":"2025-12-18","handle":{"mdck":"mdck://filing/0000315189/0001104659-25-122321","edgar":"sec.gov/…/0001104659-25-122321-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q4","calendar":"2025-11-02","type":"Q"},"currency":"USD"}},{"period":"Q3 2025","accession":"0001558370-25-011789","filing_date":"2025-08-28","handle":{"mdck":"mdck://filing/0000315189/0001558370-25-011789","edgar":"sec.gov/…/0001558370-25-011789-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q3","calendar":"2025-07-27","type":"Q"},"currency":"USD"}},{"period":"Q2 2025","accession":"0001558370-25-008218","filing_date":"2025-05-29","handle":{"mdck":"mdck://filing/0000315189/0001558370-25-008218","edgar":"sec.gov/…/0001558370-25-008218-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q2","calendar":"2025-04-27","type":"Q"},"currency":"USD"}},{"period":"Q1 2025","accession":"0001558370-25-001714","filing_date":"2025-02-27","handle":{"mdck":"mdck://filing/0000315189/0001558370-25-001714","edgar":"sec.gov/…/0001558370-25-001714-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q1","calendar":"2025-01-26","type":"Q"},"currency":"USD"}},{"period":"Q4 2024","accession":"0001558370-24-016169","filing_date":"2024-12-12","handle":{"mdck":"mdck://filing/0000315189/0001558370-24-016169","edgar":"sec.gov/…/0001558370-24-016169-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q4","calendar":"2024-10-27","type":"Q"},"currency":"USD"}},{"period":"Q3 2024","accession":"0001558370-24-012529","filing_date":"2024-08-29","handle":{"mdck":"mdck://filing/0000315189/0001558370-24-012529","edgar":"sec.gov/…/0001558370-24-012529-index.htm↗⧉"},"dimension":{"scale":"actual","period":{"fiscal":"Q3","calendar":"2024-07-28","type":"Q"},"currency":"USD"}}]}

**Next:** Use compare_companies() for peer benchmarking, get_filing_index() for a qualitative signal map, or get_stock_price() for the share-price / return leg of a valuation.

# DE — earnings_guidance
8-K   (filed 2026-05-21)
~93 words | Chunks 1-1 of 1

**Deere Segment Outlook for Fiscal 2026** (guidance, scale not detected)

SEC Filing: sec.gov/…↗⧉
MetricDuck Viewer: viewer.metricduck.com/…↗⧉
Accession: 0001104659-26-064747
Citation: mdck://DE/0001104659-26-064747/earnings_guidance#c0

End of section.

**Other sections in this filing:**
- `earnings_balance_sheet` (Balance Sheet) — ~2,470 words
- `earnings_cash_flow` (Cash Flow Statement) — ~2,417 words
- `earnings_document_map` (Document Map) — ~924 words
- `earnings_income_statement` (Income Statement) — ~3,723 words
- `earnings_press_release` (Press Release (Narrative)) — ~1,786 words
- `earnings_supplemental_tables` (Supplemental Tables) — ~1,334 words
- `transcript_prepared_remarks` (Prepared Remarks) — ~12,786 words

_Drill in via `get_filing_section(cik="0000315189", accession_number="0001104659-26-064747", section_id="...")`._

*Keyword "outlook full-year guidance" matched no chunks in section "earnings_press_release". Showing the full section (1 chunk) below for browse. Cross-section check: `outlook full-year guidance` is not in `earnings_press_release` but DOES appear in `earnings_document_map` (also in `transcript_prepared_remarks`) — `get_filing_section("DE", section_id="earnings_document_map")`.*

# DE — earnings_press_release
8-K   (filed 2026-05-21)
~1,786 words | Chunks 1-1 of 1

Exhibit 99.1 (Furnished herewith) ​ ​ ​ Contact: Jen Hartmann Director, Public Relations [email protected] ​ Deere Reports Second Quarter Net Income of $1.773 Billion MOLINE, Illinois (May 21, 2026) — Deere & Company reported net income of $1.773 billion for the second quarter ended May 3, 2026, or $6.55 per share, compared with net income of $1.804 billion, or $6.64 per share, for the quarter ended April 27, 2025. For the first six months of the year, net income attributable to Deere & Company was $2.429 billion, or $8.97 per share, compared with $2.673 billion, or $9.82 per share, for the same period last year. Worldwide net sales and revenues increased 5 percent, to $13.369 billion, for the second quarter of 2026 and rose 8 percent, to $22.981 billion, for six months. Net sales were $11.778 billion for the quarter and $19.779 billion for six months, compared with $11.171 billion and $17.980 billion last year, respectively. “Our performance in the current market environment demonstrates the strength of our diversified portfolio. This is particularly reflected in the strong outcomes achieved by our Small Ag and Construction & Forestry divisions during this year,” stated John May, chairman and CEO of John Deere. “As we address ongoing challenges within global agricultural markets, our comprehensive portfolio continues to drive market share expansion and support our targets for sustained growth. ” Company Outlook & Summary Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.5 billion to $5.0 billion. “While our customers face ongoing challenges, John Deere remains firmly committed to supporting their success through disciplined operations and resilience,” said May. “By continuing to invest in innovation through the cycle and leveraging the strength of our dealer network, we are well positioned to deliver increasing value for customers and shareholders as market conditions improve. ” ​ ​ 4 ​

The prior period year to date results presented were affected by special items. See Note 2 of the financial statements for further details. On February 20, 2026, the Supreme Court of the United States issued a decision invalidating tariffs imposed pursuant to the International Emergency Economic Powers Act (IEEPA). The company recorded a recovery of $272 million for refund claims related to IEEPA tariffs which have been filed and accepted by the U.S. Customs and Border Protection. The tariff impact for each segment is primarily included in the “Production Costs” category below. Production & Precision Agriculture sales decreased for the quarter as a result of lower shipment volumes, partially offset by the positive effects of foreign currency translation. Operating profit decreased primarily due to lower shipment volumes and higher production costs, partially offset by the favorable effects of foreign currency exchange. Production & Precision Agriculture Operating Profit Second Quarter 2026 Compared to Second Quarter 2025 $ in millions ​ ​ 5

Small Agriculture & Turf sales increased for the quarter as a result of higher shipment volumes and the positive effects of foreign currency translation. Operating profit increased primarily due to higher shipment volumes and favorable price realization. Small Agriculture & Turf Operating Profit Second Quarter 2026 Compared to Second Quarter 2025 $ in millions ​ ​ 6

Construction & Forestry sales increased for the quarter primarily as a result of higher shipment volumes and the positive effects of foreign currency translation. Operating profit increased primarily due to higher shipment volumes and favorable price realization, partially offset by higher production costs. Construction & Forestry Operating Profit Second Quarter 2026 Compared to Second Quarter 2025 $ in millions ​ Financial Services net income increased primarily due to favorable financing spreads and favorable derivative valuation adjustments, partially offset by the impact of a lower average portfolio. ​ 7

​ Deere Segment Outlook for Fiscal 2026 ​ FORWARD-LOOKING STATEMENTS Certain statements contained herein, including in the sections entitled “ Company Outlook & Summary, ” “ Industry Outlook for Fiscal 2026, ” “ Deere Segment Outlook for Fiscal 2026, ” and “ Condensed Notes to Interim Consolidated Financial Statements ” relating to future events, expectations, and trends constitute “ forward-looking statements ” as defined in the Private Securities Litigation Reform Act of 1995 and involve factors that are subject to change, assumptions, risks, and uncertainties that could cause actual results to differ materially. Some of these risks and uncertainties could affect all lines of the company’s operations generally while others could more heavily affect a particular line of business. Forward-looking statements are based on currently available information and current assumptions, expectations, and projections about future events and should not be relied upon. Except as required by law, the company expressly disclaims any obligation to update or revise its forward-looking statements. Many factors, risks, and uncertainties could cause actual results to differ materially from these forward-looking statements. Among these factors are risks related to: 8

​ Further information concerning the company or its businesses, including factors that could materially affect the company’s financial results, is included in the company’s filings with the SEC (including, but not limited to, the factors discussed in Item 1A. “Risk Factors” of the company’s most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q). There also may be other factors that the company cannot anticipate or that are not described herein because the company does not currently perceive them to be material . ​ 9

DEERE & COMPANY SECOND QUARTER 2026 PRESS RELEASE (In millions of dollars) Unaudited ​ *      Operating profit is income from continuing operations before corporate expenses, certain external interest expenses, certain foreign exchange gains and losses, and income taxes. Operating profit of Financial Services includes the effect of interest expense and foreign exchange gains and losses. **     Reconciling items are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests. ​ 10

DEERE & COMPANY STATEMENTS OF CONSOLIDATED INCOME For the Three and Six Months Ended May 3, 2026 and April 27, 2025 (In millions of dollars and shares except per share amounts) Unaudited ​ ​ ​ See Condensed Notes to Interim Consolidated Financial Statements. ​ ​ 11

DEERE & COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (In millions of dollars) Unaudited ​ ​ See Condensed Notes to Interim Consolidated Financial Statements. ​ 12

DEERE & COMPANY STATEMENTS OF CONSOLIDATED CASH FLOWS For the Six Months Ended May 3, 2026 and April 27, 2025 (In millions of dollars) Unaudited ​ ​ ​ See Condensed Notes to Interim Consolidated Financial Statements. 13

​ In February 2026, the company acquired Tenna LLC (Tenna), a U.S. construction technology company that offers mixed-fleet equipment operations and asset tracking solutions. The purchase price, net of cash acquired, was $439 million. Tenna was assigned to the CF segment. Most of the purchase price for this acquisition was allocated to goodwill and other intangible assets. ​ Discrete Tax Items In the first quarter of 2025, the company recorded favorable net discrete tax items primarily due to tax benefits of $110 million related to the realization of foreign net operating losses from the consolidation of certain subsidiaries and $53 million from an adjustment to an uncertain tax position of a foreign subsidiary. Banco John Deere S.A. In 2024, the company entered into an agreement with a Brazilian bank, Banco Bradesco S.A. (Bradesco), for Bradesco to invest and become a 50% owner of the company’s wholly-owned subsidiary in Brazil, Banco John Deere S.A. (BJD). BJD finances retail and wholesale loans for agricultural, construction, and forestry equipment. The transaction is intended to reduce the company’s incremental risk as it continues to grow in the Brazilian market. The BJD business was reclassified as held for sale in 2024. In January 2025, the valuation allowance on assets held for sale decreased, resulting in a pretax and after-tax gain (reversal of previous losses) of $32 million recorded in “Selling, administrative and general expenses” in the six months ended April 27 , 2025. The valuation allowance changes are presented in “Impairments and other adjustments” in the statements of consolidated cash flows. The company deconsolidated BJD upon completion of the transaction in February 2025. The company accounts for its investment in BJD using the equity method of accounting and results of its operations are reported in “Equity in income (loss) of unconsolidated affiliates” within the Financial Services segment. The company reports investments in unconsolidated affiliates and receivables from unconsolidated affiliates in “Other assets” and “Other receivables,” respectively. 14

DEERE & COMPANY (4) SUPPLEMENTAL CONSOLIDATING DATA STATEMENTS OF INCOME For the Three Months Ended May 3, 2026 and April 27, 2025 (In millions of dollars) Unaudited ​ 1 Elimination of intercompany interest income and expense. 2 Elimination of equipment operations’ margin from inventory transferred to equipment on operating leases. 3 Elimination of income and expenses between equipment operations and Financial Services related to intercompany guarantees of investments in certain international markets. 4 Elimination of intercompany service revenues and fees. 5 Elimination of Financial Services’ lease depreciation expense related to inventory transferred to equipment on operating leases. ​ ​ 15

DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENTS OF INCOME For the Six Months Ended May 3, 2026 and April 27, 2025 (In millions of dollars) Unaudited ​ 1 Elimination of intercompany interest income and expense. 2 Elimination of equipment operations’ margin from inventory transferred to equipment on operating leases. 3 Elimination of income and expenses between equipment operations and Financial Services related to intercompany guarantees of investments in certain international markets. 4 Elimination of intercompany service revenues and fees. 5 Elimination of Financial Services’ lease depreciation expense related to inventory transferred to equipment on operating leases. ​ ​ 16

DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) CONDENSED BALANCE SHEETS (In millions of dollars) Unaudited ​ 6 Elimination of receivables / payables between equipment operations and Financial Services. 7 Primarily reclassification of sales incentive accruals on receivables sold to Financial Services. 8 Reclassification of other receivables / payables. 9 Reclassification of deferred tax assets / liabilities in the same taxing jurisdictions. 10 Elimination of Financial Services’ equity. ​ 17

DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENTS OF CASH FLOWS For the Six Months Ended May 3, 2026 and April 27, 2025 (In millions of dollars) Unaudited ​ ​ 11 Elimination of depreciation on leases related to inventory transferred to equipment on operating leases. 12 Reclassification of share-based compensation expense. 13 Elimination of dividends from Financial Services to the equipment operations, which are included in the equipment operations operating activities. 14 Primarily reclassification of receivables related to the sale of equipment. 15 Reclassification of direct lease agreements with retail customers. 16 Reclassification of sales incentive accruals on receivables sold to Financial Services. 18

SEC Filing: sec.gov/…↗⧉
MetricDuck Viewer: viewer.metricduck.com/…↗⧉
Accession: 0001104659-26-064747
Citation: mdck://DE/0001104659-26-064747/earnings_press_release#c0

End of section.

**Other sections in this filing:**
- `earnings_balance_sheet` (Balance Sheet) — ~2,470 words
- `earnings_cash_flow` (Cash Flow Statement) — ~2,417 words
- `earnings_document_map` (Document Map) — ~924 words
- `earnings_guidance` (Guidance & Outlook) — ~93 words
- `earnings_income_statement` (Income Statement) — ~3,723 words
- `earnings_supplemental_tables` (Supplemental Tables) — ~1,334 words
- `transcript_prepared_remarks` (Prepared Remarks) — ~12,786 words

_Drill in via `get_filing_section(cik="0000315189", accession_number="0001104659-26-064747", section_id="...")`._

# DE — earnings_document_map
8-K   (filed 2026-05-21)
~924 words | Chunks 1-1 of 1

Key Metrics: Revenue: $11.778B | Net Income: $1.773B

[Compact map — narrative is indexed as [PROSE #N] entries. Read the full press-release prose (highlights, outlook/guidance, CEO commentary) via section_id=earnings_press_release (use query= to target, e.g. "outlook").]

[PROSE #1: Exhibit 99.1 (Furnished herewith) ​ ​ ​ Contact: Jen Hartmann Director, Public R… | ~313 words]

[TABLE #1: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #2: earnings_supplemental_tables | Deere Reports Second Quarter Net Income of $1.773 Billion | 1 rows | None]

[TABLE #3: earnings_supplemental_tables | Exhibit 99.1(Furnished herewith) | 1 rows | None]

[TABLE #4: earnings_supplemental_tables | Exhibit 99.1(Furnished herewith) | 1 rows | None]

[PROSE #2: The prior period year to date results presented were affected by special items. … | ~161 words]

[TABLE #5: earnings_income_statement | income_statement | 4 rows | None | periods: FY2026, FY2025, FY2026, FY2025]

[TABLE #6: earnings_income_statement | income_statement | 4 rows | None | periods: FY2026, FY2025]

[PROSE #3: Small Agriculture & Turf sales increased for the quarter as a result of higher s… | ~57 words]

[TABLE #7: earnings_income_statement | income_statement | 4 rows | None | periods: FY2026, FY2025]

[PROSE #4: Construction & Forestry sales increased for the quarter primarily as a result of… | ~88 words]

[TABLE #8: earnings_income_statement | income_statement | 4 rows | None | periods: FY2026, FY2025]

[TABLE #9: earnings_income_statement | income_statement | 2 rows | None | periods: FY2026, FY2025]

[PROSE #5: ​ Deere Segment Outlook for Fiscal 2026 ​ FORWARD-LOOKING STATEMENTS Certain sta… | ~184 words]

[TABLE #10: earnings_supplemental_tables | unknown | 14 rows | None]

[TABLE #11: earnings_guidance | Deere Segment Outlook for Fiscal 2026 | 3 rows | None]

[TABLE #12: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #13: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #14: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #15: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #16: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #17: earnings_supplemental_tables | unknown | 1 rows | None]

[PROSE #6: ​ Further information concerning the company or its businesses, including factor… | ~89 words]

[TABLE #18: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #19: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #20: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #21: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #22: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #23: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #24: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #25: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #26: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #27: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #28: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #29: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #30: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #31: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #32: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #33: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #34: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #35: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #36: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #37: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #38: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #39: earnings_supplemental_tables | unknown | 1 rows | None]

[PROSE #7: DEERE & COMPANY SECOND QUARTER 2026 PRESS RELEASE (In millions of dollars) Unaud… | ~92 words]

[TABLE #40: earnings_income_statement | (In millions of dollars) Unaudited | 15 rows | millions]

[PROSE #8: DEERE & COMPANY STATEMENTS OF CONSOLIDATED INCOME For the Three and Six Months E… | ~46 words]

[TABLE #41: earnings_income_statement | (In millions of dollars and shares except per share amounts) Unaudited | 25 rows | millions | periods: FY2026, FY2025, FY2026, FY2025]

[PROSE #9: DEERE & COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (In millions of dollars) U… | ~24 words]

[TABLE #42: earnings_balance_sheet | (In millions of dollars) Unaudited | 28 rows | millions]

[PROSE #10: DEERE & COMPANY STATEMENTS OF CONSOLIDATED CASH FLOWS For the Six Months Ended M… | ~37 words]

[TABLE #43: earnings_cash_flow | cash_flow | 37 rows | None | periods: FY2026, FY2025]

[PROSE #11: ​ In February 2026, the company acquired Tenna LLC (Tenna), a U.S. construction … | ~322 words]

[TABLE #44: earnings_supplemental_tables | unknown | 3 rows | None]

[TABLE #45: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #46: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #47: earnings_supplemental_tables | unknown | 1 rows | None]

[TABLE #48: earnings_income_statement | (In millions of dollars) Unaudited | 21 rows | millions | periods: FY2026, FY2025, FY2026, FY2025, FY2026, FY2025, FY2026, FY2025]

[PROSE #12: DEERE & COMPANY (4) SUPPLEMENTAL CONSOLIDATING DATA STATEMENTS OF INCOME For the… | ~100 words]

[TABLE #49: earnings_income_statement | (In millions of dollars) Unaudited | 21 rows | millions | periods: FY2026, FY2025, FY2026, FY2025, FY2026, FY2025, FY2026, FY2025]

[PROSE #13: DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENTS OF INCOME… | ~100 words]

[TABLE #50: earnings_balance_sheet | (In millions of dollars) Unaudited | 33 rows | millions]

[PROSE #14: DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) CONDENSED BALANCE SH… | ~69 words]

[TABLE #51: earnings_cash_flow | (In millions of dollars) Unaudited | 42 rows | millions | periods: FY2026, FY2025, FY2026, FY2025, FY2026, FY2025, FY2026, FY2025]

[PROSE #15: DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENTS OF CASH F… | ~104 words]

[TABLE #52: unclassified]

SEC Filing: sec.gov/…↗⧉
MetricDuck Viewer: viewer.metricduck.com/…↗⧉
Accession: 0001104659-26-064747
Citation: mdck://DE/0001104659-26-064747/earnings_document_map#c0

End of section.

**Other sections in this filing:**
- `earnings_balance_sheet` (Balance Sheet) — ~2,470 words
- `earnings_cash_flow` (Cash Flow Statement) — ~2,417 words
- `earnings_guidance` (Guidance & Outlook) — ~93 words
- `earnings_income_statement` (Income Statement) — ~3,723 words
- `earnings_press_release` (Press Release (Narrative)) — ~1,786 words
- `earnings_supplemental_tables` (Supplemental Tables) — ~1,334 words
- `transcript_prepared_remarks` (Prepared Remarks) — ~12,786 words

_Drill in via `get_filing_section(cik="0000315189", accession_number="0001104659-26-064747", section_id="...")`._

# DE — earnings_guidance
8-K   (filed 2026-02-19)
~124 words | Chunks 1-1 of 1

**Deere Segment Outlook for Fiscal 2026** (guidance, scale not detected)

SEC Filing: sec.gov/…↗⧉
Accession: 0001104659-26-017239
Citation: mdck://DE/0001104659-26-017239/earnings_guidance#c0

End of section.

**Other sections in this filing:**
- `earnings_balance_sheet` (Balance Sheet) — ~2,592 words
- `earnings_cash_flow` (Cash Flow Statement) — ~2,358 words
- `earnings_document_map` (Document Map) — ~857 words
- `earnings_income_statement` (Income Statement) — ~2,201 words
- `earnings_press_release` (Press Release (Narrative)) — ~1,528 words
- `earnings_supplemental_tables` (Supplemental Tables) — ~1,298 words
- `transcript_guidance` (Forward Guidance) — ~2,054 words
- `transcript_prepared_remarks` (Prepared Remarks) — ~12,786 words

_Drill in via `get_filing_section(cik="0000315189", accession_number="0001104659-26-017239", section_id="...")`._

# DE - Income Statement (Annual)

**Showing 3 periods** (most recent first)

**Period-over-period change (FY2025 vs FY2024, YoY):**
- **Revenue**: $45.68B (was $51.72B; -11.7%)
- **Cost of Revenue (COGS)**: $82.00M (was $57.00M; +43.9%)
- **Gross Profit**: $45.60B (was $51.66B; -11.7%)
- **R&D Expenses**: $2.31B (was $2.29B; +0.9%)
- **SG&A Expenses**: $4.66B (was $4.84B; -3.7%)
- **Operating Expenses**: $39.43B (was $42.51B; -7.3%)
- **Operating Income**: $6.26B (was $9.04B; -30.8%)
- **Interest Expense**: $3.17B (was $3.35B; -5.3%)
- **Net Income**: $5.03B (was $7.10B; -29.2%)
- **EPS (Diluted)**: $18.50 (was $25.62; -27.8%)
- **Diluted Shares Outstanding**: 271.70M (was 277.10M; -1.9%)
- **Gross Margin**: 99.82% (was 99.89%; -0.07pp (-7bp))
- **Operating Margin**: 13.70% (was 17.48%; -3.78pp (-378bp))
- **Net Margin**: 11.00% (was 13.73%; -2.72pp (-272bp))

*Source — the filing that reported each period (amendment-preferred when restated): FY2025 → 0001104659-25-122321 (filed 2025-12-18) · FY2024 → 0001558370-24-016169 (filed 2024-12-12) · FY2023 → 0001558370-23-019812 (filed 2023-12-15). Per-period `mdck` + EDGAR index links are in the `

` block.*
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**Next:** Use compare_companies() for peer benchmarking, get_filing_index() for a qualitative signal map, or get_stock_price() for the share-price / return leg of a valuation.

# DE — earnings_press_release
8-K   (filed 2026-02-19)
**Keyword search:** "net income attributable to Deere Company forecasted fiscal 2026" — 1 matching chunk

**[Chunk 1 of 1]**
Exhibit 99.1 (Furnished herewith) ​ ​ Contact: Jen Hartmann Director, Public Relations [email protected] ​ Deere Reports First Quarter Net Income of $656 Million MOLINE, Illinois (February 19, 2026) — Deere & Company reported net income of $656 million for the first quarter ended February 1, 2026, or $2.42 per share, compared with net income of $869 million, or $3.19 per share, for the quarter ended January 26, 2025. Worldwide net sales and revenues increased 13 percent, to $9,611 million, in the most recent quarter. Net sales were $8,001 million for the quarter, compared with $6,809 million in the same quarter of 2025. “While the global large agriculture industry continues to experience challenges, we’re encouraged by the ongoing recovery in demand within both the construction and small agriculture segments,” said John May, chairman and CEO of John Deere. “These positive developments reinforce our belief that 2026 represents the bottom of the current cycle and provides us with a strong foundation for accelerated growth going forward.” Company Outlook & Summary Net income attributable to Deere & Company for fiscal 2026 is forecasted to be in a range of $4.5 billion to $5.0 billion. “Our sustained investment in research and development throughout the cycle is yielding measurable results as we move toward launching a wide range of innovative products and solutions across all business segments,” stated May. “These advancements underscore the value of maintaining a robust portfolio that spans broad markets and regions worldwide, which should position us for success as we transition out of the current cycle.” ​ Results for the prior period were affected by special items. See Note 1 to the financial statements for further details. The cost of additional tariffs for each segment is included in the “Production costs” category below. 4 ​

​ Production & Precision Agriculture sales increased for the quarter as a result of the positive effects of foreign currency translation. Operating profit decreased primarily due to higher tariffs, unfavorable sales mix, and higher warranty expenses. Production & Precision Agriculture Operating Profit First Quarter 2026 Compared to First Quarter 2025 $ in millions ​ 5 ​

​ Small Agriculture & Turf sales increased for the quarter as a result of higher shipment volumes and the positive effects of foreign currency translation. Operating profit increased primarily due to higher shipment volumes / sales mix and price realization, partially offset by higher tariffs. Small Agriculture & Turf Operating Profit First Quarter 2026 Compared to First Quarter 2025 $ in millions ​ ​ 6 ​

​ Construction & Forestry sales increased for the quarter as a result of higher shipment volumes and the positive effects of foreign currency translation. Operating profit increased primarily due to higher shipment volumes / sales mix and production efficiencies, partially offset by higher tariffs. Construction & Forestry Operating Profit First Quarter 2026 Compared to First Quarter 2025 $ in millions ​ ​ ​ ​ Financial Services net income increased primarily due to favorable financing spreads and a lower provision for credit losses, partially offset by a favorable special item recorded in the prior period described in Note 1 to the financial statements. ​ 7 ​

​ Deere Segment Outlook for Fiscal 2026 ​ ​ FORWARD-LOOKING STATEMENTS Certain statements contained herein, including in the section entitled “ Company Outlook & Summary, ” “ Industry Outlook for Fiscal 2026, ” “ Deere Segment Outlook for Fiscal 2026, ” and “ Condensed Notes to Interim Consolidated Financial Statements ” relating to future events, expectations, and trends constitute “ forward-looking statements ” as defined in the Private Securities Litigation Reform Act of 1995 and involve factors that are subject to change, assumptions, risks, and uncertainties that could cause actual results to differ materially. Some of these risks and uncertainties could affect all lines of the company’s operations generally while others could more heavily affect a particular line of business. Forward-looking statements are based on currently available information and current assumptions, expectations, and projections about future events and should not be relied upon. Except as required by law, the company expressly disclaims any obligation to update or revise its forward-looking statements. Many factors, risks, and uncertainties could cause actual results to differ materially from these forward-looking statements. Among these factors are risks related to: 8 ​

​ Further information concerning the company or its businesses, including factors that could materially affect the company’s financial results, is included in the company’s filings with the SEC (including, but not limited to, the factors discussed in Item 1A. “Risk Factors” of the company’s most recent Annual Report on Form 10-K). There also may be other factors that the company cannot anticipate or that are not described herein because the company does not currently perceive them to be material . 9 ​

DEERE & COMPANY FIRST QUARTER 2026 PRESS RELEASE (In millions of dollars) Unaudited ​ *     Operating profit is income from continuing operations before corporate expenses, certain external interest expenses, certain foreign exchange gains and losses, and income taxes. Operating profit of Financial Services includes the effect of interest expense and foreign exchange gains and losses. **   Reconciling items are primarily corporate expenses, certain interest income and expenses, certain foreign exchange gains and losses, pension and postretirement benefit costs excluding the service cost component, and net income attributable to noncontrolling interests. ​ 10 ​

DEERE & COMPANY STATEMENTS OF CONSOLIDATED INCOME For the Three Months Ended February 1, 2026 and January 26, 2025 (In millions of dollars and shares except per share amounts) Unaudited ​ See Condensed Notes to Interim Consolidated Financial Statements. ​ 11 ​

DEERE & COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (In millions of dollars) Unaudited ​ See Condensed Notes to Interim Consolidated Financial Statements. ​ 12 ​

DEERE & COMPANY STATEMENTS OF CONSOLIDATED CASH FLOWS For the Three Months Ended February 1, 2026 and January 26, 2025 (In millions of dollars) Unaudited ​ ​ See Condensed Notes to Interim Consolidated Financial Statements. 13 ​

​ Discrete Tax Items In the first quarter of 2025, the company recorded favorable net discrete tax items primarily due to tax benefits of $110 million related to the realization of foreign net operating losses from the consolidation of certain subsidiaries and $53 million from an adjustment to an uncertain tax position of a foreign subsidiary. Banco John Deere S.A. In 2024, the company entered into an agreement with a Brazilian bank, Banco Bradesco S.A. (Bradesco), for Bradesco to invest and become 50% owner of the company’s wholly-owned subsidiary in Brazil, Banco John Deere S.A. (BJD). BJD finances retail and wholesale loans for agricultural, construction, and forestry equipment. The transaction is intended to reduce the company’s incremental risk as it continues to grow in the Brazilian market. The BJD business was reclassified as held for sale in 2024. In January 2025, the valuation allowance on assets held for sale decreased, resulting in a pretax and after-tax gain (reversal of previous losses) of $32 million recorded in “Selling, administrative and general expenses” in the three months ended January 26, 2025. The valuation allowance changes are presented in “Impairments and other adjustments” in the statements of consolidated cash flows. The company deconsolidated BJD upon completion of the transaction in February 2025. The company accounts for its investment in BJD using the equity method of accounting and results of its operations are reported in “Equity in income (loss) of unconsolidated affiliates” within the Financial Services segment. The company reports investments in unconsolidated affiliates and receivables from unconsolidated affiliates in “Other assets” and “Other receivables,” respectively. ​ ​ 14 ​

DEERE & COMPANY (3) SUPPLEMENTAL CONSOLIDATING DATA STATEMENTS OF INCOME For the Three Months Ended February 1, 2026 and January 26, 2025 (In millions of dollars) Unaudited ​ ​ 1 Elimination of intercompany interest income and expense. 2 Elimination of equipment operations’ margin from inventory transferred to equipment on operating leases. 3 Elimination of income and expenses between equipment operations and Financial Services related to intercompany guarantees of investments in certain international markets. 4 Elimination of intercompany service revenues and fees. 5 Elimination of Financial Services’ lease depreciation expense related to inventory transferred to equipment on operating leases. ​ 15 ​

DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) CONDENSED BALANCE SHEETS (In millions of dollars) Unaudited ​ ​ 6 Elimination of receivables / payables between equipment operations and Financial Services. 7 Primarily reclassification of sales incentive accruals on receivables sold to Financial Services. 8 Reclassification of other receivables / payables. 9 Reclassification of deferred tax assets / liabilities in the same taxing jurisdictions. 10 Elimination of Financial Services’ equity. ​ 16 ​

DEERE & COMPANY SUPPLEMENTAL CONSOLIDATING DATA (Continued) STATEMENTS OF CASH FLOWS For the Three Months Ended February 1, 2026 and January 26, 2025 (In millions of dollars) Unaudited ​ ​ 11 Elimination of depreciation on leases related to inventory transferred to equipment on operating leases. 12 Reclassification of share-based compensation expense. 13 Elimination of dividends from Financial Services to the equipment operations, which are included in the equipment operations operating activities. 14 Primarily reclassification of receivables related to the sale of equipment. 15 Reclassification of direct lease agreements with retail customers. 16 Reclassification of sales incentive accruals on receivables sold to Financial Services. 17 ​

SEC Filing: sec.gov/…↗⧉
Accession: 0001104659-26-017239
Citation: mdck://DE/0001104659-26-017239/earnings_press_release#c0

1 chunk matched "net income attributable to Deere Company forecasted fiscal 2026". Remove query to browse full section.

**Other sections in this filing:**
- `earnings_balance_sheet` (Balance Sheet) — ~2,592 words
- `earnings_cash_flow` (Cash Flow Statement) — ~2,358 words
- `earnings_document_map` (Document Map) — ~857 words
- `earnings_guidance` (Guidance & Outlook) — ~124 words
- `earnings_income_statement` (Income Statement) — ~2,201 words
- `earnings_supplemental_tables` (Supplemental Tables) — ~1,298 words
- `transcript_guidance` (Forward Guidance) — ~2,054 words
- `transcript_prepared_remarks` (Prepared Remarks) — ~12,786 words

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## Deere (DE) — FY2026 Outlook Check (as of 2026-06-30)

**Street consensus:** MetricDuck is an SEC-EDGAR-sourced platform (filings, XBRL, transcripts, IR docs) — it does not carry third-party sell-side analyst consensus estimates. **Insufficient data** for a "Street consensus" EPS/revenue figure; I cannot get that from this toolset without confabulating. What follows is Deere's own guidance and recent actuals, which is the input the Street consensus would be built around.

**Deere's own FY2026 guidance** (from the Q2 FY2026 earnings 8-K, filed 2026-05-21, Ex-99.1):
- **Net income attributable to Deere: $4.5B–$5.0B** for full fiscal 2026 — unchanged from the guidance given at Q1 FY2026 (8-K filed 2026-02-19), also $4.5B–$5.0B.
- No explicit consolidated **revenue** guidance was issued; management instead gave segment net-sales outlook: Production & Precision Ag down 5–10%, Small Ag & Turf up ~15%, Construction & Forestry up ~20% (each ex FX/price, which add roughly +1 to +3 pts).
- Implied EPS on ~271M diluted shares: **≈$16.6–$18.5/share** (numerator: $4.5B–$5.0B guided NI; denominator: 270.8M diluted shares, Q2 FY2026 10-Q).

**Recent quarterly actuals (10-Q/10-K, income statement):**
| Period | Revenue | Net Income | Diluted EPS |
|---|---|---|---|
| Q1 FY2025 | $8.51B | $869M | $3.19 |
| Q2 FY2025 | $12.76B | $1.80B | $6.64 |
| Q3 FY2025 | $12.02B | $1.29B | $4.75 |
| Q4 FY2025 | $12.39B | $1.07B | $3.93 |
| **FY2025 (full year, 10-K filed 2025-12-18)** | **$45.68B** | **$5.03B** | **$18.50** |
| Q1 FY2026 | $9.61B | $656M | $2.42 |
| Q2 FY2026 (latest, filed 2026-05-21) | $13.37B | $1.77B | $6.55 |
| **H1 FY2026 (6 mo. actual)** | **$22.98B** | **$2.43B** | **$8.97** |

**Comparison:**
- H1 FY2026 revenue is up 8% YoY ($22.98B vs. $21.27B H1 FY2025), but net income is **down** ~9% ($2.43B vs. $2.67B) and EPS down ~9% ($8.97 vs. $9.82) — margin compression driven mainly by tariffs (management quantified a $372M net tariff cost impact in H1 FY2026) and Production & Precision Ag weakness.
- Deere's $4.5B–$5.0B FY2026 net-income guide implies H2 FY2026 net income of roughly $2.07B–$2.57B (guidance minus H1 actual $2.43B), i.e. a second half similar to or modestly above H1's pace — consistent with a "bottom of the cycle" narrative management gave (CEO John May: "2026 represents the bottom of the current cycle").
- Guided FY2026 EPS of ~$16.6–$18.5 sits flat-to-down versus FY2025's actual $18.50 — at the low end of guidance, that's roughly a 10% EPS decline; at the high end, essentially flat.

FINAL ANSWER:
- Street/analyst consensus EPS and revenue for Deere's FY2026: **insufficient data** — MetricDuck sources SEC filings and transcripts only, not third-party analyst consensus estimates, so I cannot provide a verified consensus number.
- Deere's own FY2026 guidance (per Q2 FY2026 8-K, filed 2026-05-21, reaffirmed from Q1 FY2026 guidance filed 2026-02-19): full-year net income of **$4.5B–$5.0B**, implying diluted EPS of roughly **$16.6–$18.5** (on ~270.8M diluted shares). No consolidated revenue guidance was given — only segment net-sales outlook (Production & Precision Ag down 5–10%, Small Ag & Turf up ~15%, Construction & Forestry up ~20%, each before FX/price effects).
- Recent quarterly trend (10-Q/10-K actuals): Q1 FY2026 revenue $9.61B / EPS $2.42; Q2 FY2026 revenue $13.37B / EPS $6.55; H1 FY2026 combined revenue $22.98B / net income $2.43B / EPS $8.97 — revenue up ~8% YoY but net income and EPS down ~9% YoY vs. H1 FY2025 ($2.67B / $9.82 EPS), largely due to tariff costs (~$372M net impact in H1) and Production & Precision Ag margin pressure.
- FY2025 full-year actual for context: revenue $45.68B, net income $5.03B, diluted EPS $18.50 (down from FY2024's $51.72B / $7.10B / $25.62).
- Read-through: management's guided FY2026 EPS range ($16.6–$18.5) is flat to modestly down versus FY2025's actual $18.50, consistent with their "2026 is the cycle bottom" framing — the H2 implied run-rate needs to hold roughly at H1's pace (or improve slightly) to hit the guided range, so the upcoming Q3 print is the key checkpoint against that guidance since no independent consensus figure is available here to benchmark against.