Deere & Company (DE) Earnings Call Transcripts

Deere & Company's Latest Earnings Call - Q3 FY2026

In the third quarter of fiscal year 2026, Deere & Company reported net sales of $12.6 billion, a 5% increase year-over-year, with net income of $1.4 billion or $5.10 per diluted share. Management raised full-year net income guidance to a range of $4.75 billion to $5 billion, reflecting strong execution and a robust order book across segments. However, the company adjusted its sales outlook for the Production and Precision Ag segment to a decline of approximately 10%, citing softer demand in South America and Europe, which could impact investor sentiment moving forward.

Reported metrics

Guidance from management

Management raised full-year net income guidance to $4.75 billion to $5 billion and improved cash flow expectations to $5 billion to $5.5 billion. However, they adjusted the Production and Precision Ag sales guidance to a decline of approximately 10%.

What management said

This is Brent. I'd just add one more point on the outlook. I remain very confident in our team's ability to finish strong for the fiscal year. The combination of our performance year-to-date and a strong fourth quarter order book across all segments has enabled us to narrow our guidance ranges and improve our net income and cash flow forecast despite a very dynamic market backdrop.

Thanks for the additional details, both Brent and Chris. Building on that, we had a few adjustments in the guidance ranges. Can you help walk us through the rationale, starting with C&F?

What analysts pressed on

Analysts expressed concerns regarding the softer demand in South America and Europe, particularly for the Production and Precision Ag segment. There were also questions about the impact of tariffs and inflation on future pricing strategies and margins.

Main topics on the call

• Revenue Growth — Deere's net sales increased by 5% to $12.6 billion, driven by strong performance in Construction & Forestry and Small Ag and Turf segments. Management noted, "the strong operational performance drove results above compan...
• Segment Performance — The Small Ag and Turf segment saw a 12% increase in net sales, totaling $3.4 billion, while Production and Precision Ag reported a 6% decline to $4 billion. Management stated, "the overall demand environment remains posi...
• Guidance Adjustments — Management raised the full-year net income outlook to $4.75 billion to $5 billion, but lowered the Production and Precision Ag sales guidance to a decline of 10%. They noted, "we have tightened our margin guidance to 11%...
• Tariff Impact — Deere expects direct tariff expenses of approximately $1.1 billion for the fiscal year, down from previous estimates. Management clarified, "the driver from $1.2 billion to $1.1 billion is mainly attributed to the change...

Read the full Deere & Company transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 43 Deere & Company earnings call transcripts on record, spanning January 8, 2020 to August 20, 2026. Based on this history, Deere & Company reports quarterly. The most recent call on file is dated August 20, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DE

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Machinery

Calls on record

43

First call

January 8, 2020

Most recent

August 20, 2026

Reporting cadence

quarterly