Key facts
- Deere raised its 2026 net income forecast to $4.75 billion-$5 billion.
- The company's previous 2026 net income forecast was $4.5 billion-$5 billion.
- This marks Deere's first quarterly profit increase in three years.
- The construction and forestry segment experienced an 18% rise in quarterly net sales.
- Deere anticipates improved demand for smaller tractors and construction equipment.
Deere, the world's largest farm equipment manufacturer, has increased the lower end of its full-year net income forecast for 2026. The company now anticipates earnings between $4.75 billion and $5 billion, an upward revision from its prior projection of $4.5 billion to $5 billion. This adjustment is based on expectations of improved demand for its smaller tractors and construction equipment. Deere reported its first quarterly profit increase in three years, driven by an AI-driven construction boom and tariff refunds. The company's construction and forestry segment saw an 18% rise in quarterly net sales, making it its fastest-growing business.