How did Deere & Company (NYSE:DE) perform in Q2 FY2026?

Deere reported total net sales and revenues of $13.369 billion for the quarter ended May 3, 2026, up 5% year-over-year, surpassing Wall Street consensus estimates despite cyclical cooling in the agricultural sector.

How did Deere’s net income and EPS trend in Q2 2026?

Net income attributable to Deere declined slightly to $1.773 billion, down from $1.804 billion a year ago. Diluted EPS fell to $6.55 per share, compared to $6.64 in Q2 FY2025, but still exceeded analyst expectations.

What drove Deere’s top-line growth?

Revenue gains were led by equipment sales, with core hardware net sales reaching $11.778 billion, up from $11.171 billion in the prior-year quarter. The company benefited from stronger-than-anticipated equipment demand in North America and Europe.

How did Deere perform in the first half of FY2026?

For the first six months, total revenues rose 8% to $22.981 billion. Cumulative net income for the period totaled $2.429 billion, or $8.97 per share, reflecting normalization from multi-year cyclical peaks.

What factors pressured Deere’s profitability?

Rising operating overhead and a changing product mix contributed to a slight narrowing of profit margins, even as revenue growth remained solid.

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Deere revenue beats estimates on resilient demand as net income narrows

Written by Mahathir BayenaPublished May. 21 2026Last Updated May. 21 2026

Deere & Company (NYSE:DE) reported a 5% increase in worldwide net sales and revenues for the fiscal second quarter of 2026, beating consensus Wall Street projections despite persistent cyclical cooling and shifting volume dynamics in the global agricultural sector.

The Moline, Illinois-based industrial giant generated total net sales and revenues of $13.369 billion for the three months ended May 3, 2026, up from the $12.763 billion recorded in the corresponding prior-year quarter.

For the first six months of the fiscal year, total revenues rose 8% to $22.981 billion, signaling durable operational execution in a volatile macroeconomic environment.

While equipment demand stayed healthier than initially anticipated by analysts, rising operating overhead and changing product mix caused bottom-line profitability to narrow slightly.

Net income attributable to Deere & Company came in at $1.773 billion for the second quarter, down from the $1.804 billion achieved in the second quarter of 2025.

On a per-share basis, diluted earnings settled at $6.55 per share compared to $6.64 per share last year, though the result comfortably outpaced consensus analyst targets.

For the first half of fiscal 2026, cumulative net income fell to $2.429 billion, or $8.97 per share, reflecting a broader normalization from multi-year cyclical peaks across North American and European farm economies.

When isolating core hardware manufacturing, standalone net sales reached $11.778 billion for the quarter, compared to $11.171 billion in the baseline prior-year period.

Six-month equipment net sales climbed to $19.779 billion from $17.980 billion a year earlier.