The beat and raised guidance, combined with management's cycle-bottom call, are strong bullish signals. Monitor early order program trends and used-equipment inventory data for confirmation of the cycle turn. The Production & Precision Ag segment remains a headwind, but the diversified portfolio is absorbing it.
Price Chart
Executive Summary
Deere reported Q3 2026 EPS of $5.10, an 8.6% beat vs the $4.70 consensus, driven by strong execution in Construction & Forestry (+84% operating profit) and Small Ag & Turf (+28%). The company raised its full-year net income guidance to $4.75-$5.0 billion from $4.5-$5.0 billion, reinforcing management's view that 2026 marks the bottom of the ag cycle.
Key Financial Metrics
Key Facts
- Q3 2026 EPS $5.10 vs consensus $4.70 (8.6% beat)
- Q3 net income $1.379B vs $1.289B YoY (+7%)
- FY2026 net income guidance raised to $4.75B-$5.0B from $4.5B-$5.0B
- Construction & Forestry operating profit +84% YoY to $436M
- Small Ag & Turf operating profit +28% YoY to $622M
- Production & Precision Ag sales -6% YoY, operating profit -9%
- Worldwide net sales +5% to $12.608B
- Management states 2026 is the bottom of the ag equipment cycle
Financial Impact
EPS beat of $0.40 (8.6%) on consensus $4.70; full-year net income guidance raised by $250M at midpoint to $4.875B
Risk Factors
- Production & Precision Ag sales -6% YoY and operating profit -9% YoY
- Tariff uncertainty and trade policy risks
- Higher interest rates pressuring farm incomes and equipment financing
- South America large ag demand down 15-20%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302856316 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Press Release | $634.54 $684.73 | ▲ +7.91% | ▲ +6.71% | $675.18 (+6.40%) |
Aug 20, 2026 6w ago | Press Release | $620.94 $683.99 | ▲ +10.15% | ▲ +10.15% | $675.18 (+8.73%) |
Aug 20, 2026 6w ago | 8-K | $620.94 $683.99 | ▲ +10.15% | ▲ +10.15% | $675.18 (+8.73%) |
Aug 5, 2026 8w ago | Press Release | $611.81 $698.37 | ▲ +14.15% | ▲ +14.75% | $675.18 (+10.36%) |
Jun 1, 2026 17w ago | 8-K | $578.66 $627.63 | ▲ +8.46% | ▲ +10.28% | $675.18 (+16.68%) |
May 21, 2026 19w ago | 8-K | $530.97 $589.24 | ▲ +10.97% | ▲ +10.43% | $675.18 (+27.16%) |
US Market Status
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