Deere & Co. reported net income of USD 1.379 billion for the third quarter ended August 2, 2026, compared with USD 1.289 billion for the quarter ended July 27, 2025. For the first nine months of the year, net income was USD 3.808 billion, compared with USD 3.962 billion last year.
Worldwide net sales and revenues increased 5 percent, to USD 12.608 billion, for the third quarter of 2026 and rose 7 percent, to USD 35.589 billion, for nine months. Net sales were USD 10.999 billion for the quarter and USD 30.779 billion for nine months, compared with USD 10.357 billion and USD 28.338 billion last year, respectively.
“Deere delivered a strong quarter, reflecting disciplined execution by our teams and continued resilience across our portfolio,” said John C. May, chairman and chief executive officer. “Our performance underscores the strength of our business, supported by stable U.S. market conditions, our ability to manage softer conditions in Brazil and Europe, and our commitment to helping customers succeed.”
“As we look ahead, we continue to believe 2026 will mark the bottom of the current ag equipment cycle,” May said. “Across our business, early order program trends, improving used-equipment inventories, and increasing customer adoption of our advanced technologies give us confidence that Deere is well positioned for long-term value creation.”
Results for the prior periods presented were affected by special items. The company recorded tariff recoveries in the third quarter and first nine months of 2026 of USD 110 million and USD 382 million, respectively. The tariff impact for each segment is primarily included in the “Production Costs” category.
Production & Precision Agriculture sales decreased for the quarter as a result of lower shipment volumes, partially offset by favorable price realization and foreign currency translation. Operating profit decreased primarily due to lower shipment volumes / sales mix and higher production costs, partially offset by favorable price realization and the effects of foreign currency exchange.
Small Agriculture & Turf sales increased for the quarter as a result of higher shipment volumes and favorable price realization. Operating profit increased primarily due to higher shipment volumes / sales mix and favorable price realization, partially offset by higher production costs.
Construction & Forestry sales increased for the quarter primarily as a result of higher shipment volumes and favorable price realization. Operating profit increased primarily due to favorable price realization, partially offset by higher SA&G and R&D costs.
Financial Services net income increased primarily due to favorable financing spreads, partially offset by the impact of a lower average portfolio.
