Deere Q1 Sales Rise 13% to $9.6B, Guidance Raised to Mid-Singles
Deere & Company reported Q1 net sales of $9.611 billion (+13%) and net income of $656 million ($2.42/share), with equipment operations revenue up 18% to $8.001 billion. Strong order books in small ag, turf and construction prompted Deere to raise FY26 equipment net sales growth outlook to mid-single digits.
1. Q1 Financial Highlights
Deere reported Q1 net sales of $9.611 billion, up 13% year-over-year, and net income of $656 million ($2.42 per diluted share). Equipment operations revenue rose 18% to $8.001 billion, driving a 5.9% operating margin.
2. Segment Performance
Production and Precision Ag net sales reached $3.163 billion (+3%), with a 4.4% operating margin, while Small Ag & Turf net sales jumped 24% to $2.168 billion, delivering a 9% margin. Construction and forestry top line advanced over 20%.
3. Order Books and Updated Outlook
Deere saw strengthened order books across small ag, turf and compact construction, prompting an increase in its FY26 equipment net sales growth outlook to mid-single digits. Stability in North American large ag and improved combine early orders partially offset softer South American demand.