Jul 2026 (Q3 FY26) — Aug 20, 2026
Deere & Company Q3 FY26 — Strong Execution and Improved Outlook Amid Dynamic Markets
Read the full callDeere & Company (DE) earnings
- Aug 2026
- Jul 2026 (Q3 FY26)
- Nov 2025
Deere & Company earnings: last reported Thu, 20 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 12,608 | +4.9% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Aug 2026 | Not in the filed figures for the quarter to aug 2026. No older figure is substituted. | ||
| Net profit | 1,379 | +7.0% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
25 of 31 judged targets kept · 43 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Launch of Deere-designed 20-ton class excavators built in Kernersville, North Carolina | announce our new Deere designed 20-ton class excavators at the upcoming CONEXPO show | Jan 2026 | we recently started building Deere-designed excavators in Kernersville, North Carolina following a $70 million expansion investment | Achieved |
| Full-year cash flow from the equipment operations | $4 billion to $5 billion | Oct 2025 | cash flow from the equipment operations remains projected between $4.5 billion and $5.5 billion | Revised Up |
| Brazil combine underproduction versus retail demand | underproduce retail for Brazilian combines in our second and third quarters | Jan 2026 | in Brazil, we expect to underproduce retail demand, most notably in combines | On Track |
6 of DEERE & CO's 74 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 71 more targets are in the full ledger.
Claimed
- Equipment operations achieved a strong 14.4% operating margin.
- Net sales and revenues increased 5% to $12,608 million.
- Net income outlook raised to a range of $4.75 billion to $5 billion for FY26.
- Cash flow expectations from equipment operations improved to $5 billion to $5.5 billion for FY26.
- Small Ag and Turf operating margin guide increased to between 14.5% and 15.5% for FY26.
Qualified
- Production & Precision Ag net sales were down 6% due to lower shipment volumes.
- Large ag equipment industry sales in the U.S. and Canada are expected to decline 15% to 20% year-over-year.
- South America industry outlook revised down 15% to 20% due to elevated production costs and higher interest rates.
- Global forestry industry is now expected to be down 10% for the year.
Price
$627 −2.32% · −$14.86
Performance +36.8% 1Y
1Y: $458.5 on 17 Oct 2025 → $627. High $709.48 (23 Sept 2026), low $458.5 (17 Oct 2025).
- Previous close
- $641.86
- 52-week range
- $459.82 – $709.48
- One year
- +35.59%
Overview
- Symbol
- DE
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
25 of 31 judged targets kept · 43 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Launch of Deere-designed 20-ton class excavators built in Kernersville, North Carolina | announce our new Deere designed 20-ton class excavators at the upcoming CONEXPO show | Jan 2026 | we recently started building Deere-designed excavators in Kernersville, North Carolina following a $70 million expansion investment | Achieved |
| Full-year cash flow from the equipment operations | $4 billion to $5 billion | Oct 2025 | cash flow from the equipment operations remains projected between $4.5 billion and $5.5 billion | Revised Up |
| Brazil combine underproduction versus retail demand | underproduce retail for Brazilian combines in our second and third quarters | Jan 2026 | in Brazil, we expect to underproduce retail demand, most notably in combines | On Track |
Claimed
- Equipment operations achieved a strong 14.4% operating margin.
- Net sales and revenues increased 5% to $12,608 million.
- Net income outlook raised to a range of $4.75 billion to $5 billion for FY26.
- Cash flow expectations from equipment operations improved to $5 billion to $5.5 billion for FY26.
- Small Ag and Turf operating margin guide increased to between 14.5% and 15.5% for FY26.
Qualified
- Production & Precision Ag net sales were down 6% due to lower shipment volumes.
- Large ag equipment industry sales in the U.S. and Canada are expected to decline 15% to 20% year-over-year.
- South America industry outlook revised down 15% to 20% due to elevated production costs and higher interest rates.
- Global forestry industry is now expected to be down 10% for the year.
The full ledger
Open DEERE & CO’s full ledger
A free account opens 5 company ledgers a month. All 74 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q2 FY26) — May 21, 2026
Deere & Company Q2 FY26 — Portfolio diversification and a one-time tariff refund hold enterprise guidance despite large-ag trough
Read the full callFeb 2026 (Q1 FY26) — Feb 19, 2026
Deere & Company Q1 FY26 — Strong Q1 Performance and Increased FY26 Net Income Outlook
Read the full callEvery analysed call
Deere & Company earnings calls (DE)
Financials
What the filings say
Net profit, year on year: +7% (quarter to aug 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 11,144 | 8,508 | 12,763 | 12,018 | 12,395 | 9,611 | 13,369 | 12,608 |
| Expenses | 9,625 | 7,613 | 10,426 | 10,418 | 10,970 | 8,775 | 11,076 | 10,726 |
| Interest | 870 | 829 | 784 | 794 | 763 | 719 | 712 | 710 |
| Profit before tax | 1,519 | 895 | 2,337 | 1,600 | 1,425 | 836 | 2,293 | 1,882 |
| Tax rate | 16.4% | 3.0% | 23.1% | 21.2% | 24.8% | 23.4% | 22.6% | 28.1% |
| Net profit | 1,245 | 869 | 1,804 | 1,289 | 1,065 | 656 | 1,773 | 1,379 |
| EPS ($ per share) | — | 3.20 | 6.65 | 4.76 | — | 2.43 | 6.57 | 5.11 |
| Line item | Oct 2018 | Nov 2019 | Nov 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Nov 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 4,474 | 4,642 | 4,895 | 5,054 | 5,165 | 5,303 | 5,489 | 5,668 |
| Reserves | 27,553 | 29,852 | 31,646 | 36,449 | 42,247 | 50,931 | 56,402 | 59,676 |
| Total liabilities | 58,803 | 61,580 | 62,147 | 65,680 | 69,673 | 82,201 | 84,395 | 79,989 |
| Fixed assets | 5,868 | 5,973 | 5,817 | — | — | — | — | — |
| Total assets | 70,108 | 73,011 | 75,091 | 84,114 | 90,030 | 104,087 | 107,320 | 105,996 |
| Line item | Oct 2018 | Nov 2019 | Nov 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Nov 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,822 | 3,412 | 7,483 | 7,726 | 4,699 | 8,589 | 9,231 | 7,459 |
| Cash from investing | -8,176 | -3,924 | -3,319 | -5,750 | -8,485 | -8,749 | -6,464 | -2,057 |
| Cash from financing | 876 | 509 | -980 | -1,078 | 826 | 2,808 | -2,717 | -4,579 |
| Net cash flow | -5,452 | -59 | 3,216 | 953 | -3,184 | 2,679 | 13 | 900 |
| Capital expenditure | -896 | -1,120 | -820 | -848 | -1,134 | -1,498 | -1,640 | -1,360 |
| Free cash flow | 926 | 2,292 | 6,663 | 6,878 | 3,565 | 7,091 | 7,591 | 6,099 |
DE revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Production and Precision Agriculture | 40% | 37% | 42% | 36% | 39% | 34% | 34% | 33% | -6.5% |
| Construction and Forestry | 25% | 24% | 24% | 26% | 28% | 28% | 29% | 29% | +18.0% |
| Small Agriculture and Turf | 24% | 21% | 24% | 26% | 20% | 23% | 26% | 27% | +11.6% |
| Financial Services | — | — | — | — | — | 15% | 11% | 12% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
DE operating KPIs by quarter
| KPI | Feb 2025 Q1 FY25 | Aug 2025 Q3 FY25 | Nov 2025 Q4 FY25 | Feb 2026 Q1 FY26 | May 2026 Q2 FY26 | Jul 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Engaged acres | 455M+On engaged acres, maybe just to talk about the numbers, we're over 455 million globally year-over-year, that's up about 15%.Source: earnings call transcript | 485M+That's contributing to overall engaged acre growth, where we've now surpassed 485 million acres across the globe, 30% of which are highly engaged.Source: earnings call transcript | 500M+The John Deere operations center now covers over 500 million engaged acres, a 10% increase from last year.Source: earnings call transcript | 500MMaybe stepping back to, as we think about just overall tech adoption and our conversations around are recovering acres with more dear technology, our engaged acres stepped up again this quarter or 500 million engaged acres.Source: earnings call transcript | — | 520M+We now have more than 520 million engaged acres across nearly 1.2 million connected machines.Source: earnings call transcript | — |
| Monthly active digital users | — | — | — | — | <440KAdditionally, the quantity of monthly active digital users continues to grow, now reaching nearly 440,000.Source: earnings call transcript | 450K+Today, more than 450,000 unique active monthly digital users are engaging with our tools, reinforcing the growing importance of data-driven decisions across the farm.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q3 FY2026 · share of revenue
- US 54% ↓ 5 pt
- Western Europe 15% ↑ 3 pt
- Latin America 10%
- Asia Africa Oceania and Middle East 10% ↑ 2 pt
- CA 8% ↓ 1 pt
- Central Europe and Commonwealth Of Independent States 4% ↑ 1 pt
As DE cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
84 filings between Oct 31, 2025 and Aug 31, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$55.91M
27 sales by 3 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 20
- Award — granted as compensation
- 15
- Option exercise — converted options into shares
- 22
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| May John C II | — | $26.35M | Jan 8, 2026 |
| CAMPBELL RYAN D | — | $23.44M | Aug 31, 2026 |
| Reed Cory J | — | $6.12M | Jan 14, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,049 | $459.9K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 199 | $130.5K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 2,929 | $1.90M |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 391 | $255.8K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,079 | $275.0K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 363 | $236.9K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 975 | $635.1K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 957 | $360.8K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,775 | $610.5K |
| Aug 31, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 3 | $2.0K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 508 | $335.2K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 120 | $79.0K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,885 | $826.5K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 120 | $78.3K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 373 | $242.9K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,648 | $420.0K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 528 | $347.1K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 336 | $220.5K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 2,654 | $1.73M |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 1,560 | $1.02M |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 1,280 | $837.7K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 1,544 | $582.1K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 2,762 | $950.0K |
| Aug 24, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 360 | $235.4K |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 5,946 | $1.52M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 40 | $26.2K |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 2,341 | $1.53M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 2,637 | $1.72M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 6,696 | $4.36M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Sale 10b5-1 plan | 11,546 | $7.51M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 4,571 | $1.72M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 7,674 | $2.64M |
| Aug 21, 2026 | CAMPBELL RYAN D Pres WWC&F and Pwr Systems | Option exercise 10b5-1 plan | 5,069 | $2.22M |
| Aug 17, 2026 | Norwood Terry Brent Sr VP & CFO | Tax withheld | 19 | $11.6K |
| May 1, 2026 | WALKER KELLYE L. Snr VP & CLO GLSRA | Tax withheld | 568 | $327.9K |
| Mar 4, 2026 | FEIGHT R PRESTON Director | Award | 293 | $0 |
| Mar 4, 2026 | STOCKTON DMITRI L Director | Award | 293 | $0 |
| Mar 4, 2026 | Talton Sheila Director | Award | 293 | $0 |
| Mar 4, 2026 | HUNN LAURENCE NEIL Director | Award | 293 | $0 |
| Mar 4, 2026 | Heuberger Alan Cletus Director | Award | 293 | $0 |
| Mar 4, 2026 | PAGE GREGORY R Director | Award | 293 | $0 |
| Mar 4, 2026 | Caret Leanne G Director | Award | 293 | $0 |
| Mar 4, 2026 | Sikes James Brian Director | Award | 293 | $0 |
| Mar 4, 2026 | Erwin Tami A. Director | Award | 293 | $0 |
| Jan 14, 2026 | Reed Cory J Pres, Life Sol Cust Sup & S.M. | Sale 10b5-1 plan | 12,000 | $6.12M |
| Jan 14, 2026 | Reed Cory J Pres, Life Sol Cust Sup & S.M. | Option exercise 10b5-1 plan | 12,000 | $2.04M |
| Jan 8, 2026 | May John C II Chairman & CEO | Option exercise 10b5-1 plan | 41,472 | $10.57M |
| Jan 8, 2026 | May John C II Chairman & CEO | Sale 10b5-1 plan | 5,296 | $2.67M |
| Jan 8, 2026 | May John C II Chairman & CEO | Sale 10b5-1 plan | 8,216 | $4.13M |
| Jan 8, 2026 | May John C II Chairman & CEO | Sale 10b5-1 plan | 15,504 | $7.76M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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