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Deere $DE +0.43% & Company reported fiscal second-quarter net income of $1.77 billion, or $6.55 per share, as a surge in construction and forestry sales helped compensate for a steep decline in its large agriculture business.
Total revenue for the quarter ended May 3, 2026 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 The Wall Street Journal.
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.
