Deere & Company (DE) Announced Q1 2026 Earnings on February 19, 2026, Reporting "Net sales and revenues were up 13% to $9.611 billion" for the quarter

For the first quarter, "John Deere completed the first quarter with a 5.9% operating margin for the equipment operations". For the quarter, "Net sales and revenues were up 13% to $9.611 billion, while net sales for the equipment operations were up 18% to $8.001 billion". In addition, for the quarter, "Net income attributable to Deere & Company was $656 million or $2.42 per diluted share".

Management provided several business updates, noting that "All business segments delivered higher net sales year-over-year with both Small Ag and Turf and Construction Forestry top line growing by over 20%". Executives stated that "results for the quarter exceeded our forecast" and observed that "order books continue to grow".

In terms of forward guidance, management noted, "For fiscal year '26. Our updated outlook for net income is now between $4.5 billion and $5 billion". Additionally, for the full year, "projections for cash flow from the equipment operations increased by $500 million at both ends of our range and is now expected to be between $4.5 billion and $5.5 billion". The guidance for the year also "incorporates an effective tax rate between 25% and 27%".

On the product and partnership front, the company stated, "yesterday, we completed the acquisition of Tenna". Management also announced, "we are excited to announce our new Deere Design 2010 class excavators at the upcoming ConExpo Show in Las Vegas", adding that the event "will feature 24 product launches".