Total revenue for the quarter ended May 3 reached $13.37 billion, a 5% increase from the year-earlier period, the company said. A year ago, Deere earned $1.8 billion, or $6.64 per share. Analyst forecasts had called for $5.70 per share in earnings and $12.73 billion in revenue, according to .

In the construction and forestry segment, net sales jumped to $3.79 billion, a 29% gain, with the company crediting increased shipment volumes and better price realization; operating profit surged 48% to $561 million. The small agriculture and turf segment posted a 16% revenue increase to $3.49 billion, with operating profit expanding 25%.

Partially countering those bright spots, the production and precision agriculture unit saw revenue shrink to $4.5 billion, down 14% year over year, as lower volumes and climbing production costs squeezed results; operating profit fell 39% to $706 million.

In a statement, CEO John May credited the company’s range of businesses for cushioning it against sector-specific headwinds. “Our performance in the current market environment demonstrates the strength of our diversified portfolio,” he said. “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.”

Full-year net income guidance remained at $4.5 billion to $5 billion. Within that outlook, Deere raised its construction and forestry sales growth target to roughly 20% from a prior estimate of 15%, leaving unchanged its projections for small agriculture to grow about 15% and for production agriculture to decline between 5% and 10%.

Weakness in the large agriculture segment reflects sustained difficulty for North American growers, with Deere projecting industry-wide volumes in that category to drop 15% to 20% over the full fiscal year. USDA data shows aggregate U.S. farm income holding at around $153 billion for 2026, essentially unchanged from 2025 and far below the $182 billion peak set in 2022, according to .

Deere also acquired Tenna LLC, a construction technology company offering equipment tracking solutions, for $439 million in Feb. 2026, the company said. Tenna was assigned to the construction and forestry segment.View Comments

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