Deere & Co. posted fiscal third-quarter earnings and revenue that surpassed Wall Street expectations on Thursday, sending shares up more than 3% in premarket trading.
The agricultural equipment manufacturer reported adjusted earnings of $5.10 per share, beating the consensus estimate of $4.69. Revenue rose 5% year-over-year to $12.61 billion, exceeding the forecast of $10.81 billion.
Full-year net income guidance was narrowed to a range of $4.75 billion to $5.00 billion, up from the prior range of $4.5 billion to $5.0 billion. The midpoint of the updated guidance exceeds the $4.87 billion analyst estimate.
Chief Executive John May attributed the results to disciplined execution and resilience across the company’s portfolio. He noted stable conditions in the U.S. market, while acknowledging softer demand in Brazil and Europe. May also reiterated the company’s view that 2026 will mark the bottom of the current agricultural equipment cycle.
Looking ahead, May cited early order trends, improving used-equipment inventories, and rising customer adoption of advanced technologies as indicators of Deere’s long-term positioning for value creation.
