One of the world's largest makers of farm and construction equipment, this company builds John Deere tractors, combines, and precision-agriculture technology, along with construction and roadbuilding machinery like Wirtgen. It began when Vermont-born blacksmith John Deere forged a self-cleaning steel plow from a broken sawmill blade in 1837, solving the problem of sticky prairie soil. Its leaping-deer logo, used since 1876, is a visual pun on the founder's name.
Deere reports Q3 FY2026 net income of $1.379 billion, raises FY2026 guidance to $4.75-$5.00 billion.
Third quarter net income was $1.379 billion, or $5.10 per share, up from $1.289 billion, or $4.75 per share, in the prior-year quarter.
Show detailsHide details
Worldwide net sales and revenues increased 5% to $12.608 billion for the quarter; net sales were $10.999 billion.
Fiscal 2026 net income guidance improved to a range of $4.75 billion to $5.00 billion.
Segment results: Production & Precision Ag net sales down 6% to $3.998 billion; Small Ag & Turf up 12% to $3.383 billion; Construction & Forestry up 18% to $3.618 billion.
Company states 2026 is expected to be the bottom of the ag equipment cycle, citing order book trends and improving used-equipment inventories.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Deere subsidiary to sell $300M of 4.850% Notes due 2031, guaranteed by Deere & Company
On July 10, 2026, Deere Funding Canada Corporation agreed to sell $300,000,000 aggregate principal amount of 4.850% Notes due July 15, 2031.
Show detailsHide details
The Notes are fully and unconditionally guaranteed on a senior unsecured basis by Deere & Company, the indirect parent.
A terms agreement was entered into with underwriters including Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC, and TD Securities (USA) LLC.
Interest on the Notes is payable semiannually on January 15 and July 15, beginning January 15, 2027.
The Notes may be redeemed by the Issuer or Guarantor under certain tax-related circumstances at 100% of principal plus accrued interest.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Deere director Dmitri Stockton will not stand for re-election at the 2027 annual meeting
Stockton's decision is not due to any disagreement with the Company, its operations, policies, or practices.
Show detailsHide details
On May 26, 2026, Dmitri Stockton notified Deere & Company's Board that he will not stand for re-election as a director at the 2027 annual meeting of stockholders.
He will serve the remainder of his current term, which expires at the 2027 annual meeting.
The Board thanked Stockton for nearly 12 years of service and looks forward to his continued service through the 2027 annual meeting.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Deere elects Brent Norwood as CFO, effective May 1, 2026
He replaces Ryan D. Campbell, who was acting CFO and will continue as President, Worldwide Construction & Forestry and Power Systems.
Show detailsHide details
T. Brent Norwood, 44, was elected Senior Vice President and Chief Financial Officer, effective May 1, 2026.
Norwood previously served as Vice President & Finance Director, Construction & Forestry and Power Systems since October 2023.
His annualized salary will be $925,000, with a short-term incentive plan target of 100% of base salary.
He will receive a one-time award of 8,809 performance-based restricted stock units on May 1, 2026, vesting through October 27, 2030.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Deere grants one-time performance-based PSU awards to named executive officers
The PSUs are tied to Shareholder Value Added (SVA) targets over a five-fiscal-year performance period from November 3, 2025 to October 27, 2030, with time-based vesting through October 27, 2030.
Show detailsHide details
On March 12, 2026, Deere & Company's Board approved one-time performance-based restricted stock unit (PSU) awards to named executive officers and certain senior officers, with grants expected on or about March 19, 2026.
Payouts range from 0% to 175% of target based on SVA performance relative to annual targets, with no payout below 90% of target and maximum payout at or above 125% of target.
Target values for named executive officers are: John C. May $25,000,000, Ryan D. Campbell $5,000,000, and Deanna M. Kovar $5,000,000.
PSUs are forfeited if employment terminates during the first three years of the performance period, with prorated vesting for death, disability, qualifying termination, or retirement after three years, and full service vesting upon qualifying termination within 24 months after a change of control.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Shareholder vote8-K
Deere shareholders elect all 10 director nominees and approve executive compensation at 2026 annual meeting.
All 10 director nominees were elected for terms expiring at the 2027 annual meeting; votes for each ranged from 190,502,787 to 205,689,006.
Show detailsHide details
Deere & Company held its annual meeting of shareholders on February 25, 2026.
The advisory vote on executive compensation was approved with 190,345,717 votes for and 16,140,154 against.
Deloitte & Touche LLP was ratified as independent auditor for fiscal 2026 with 225,438,196 votes for.
Three shareholder proposals (emission reduction ROI report, written consent, faith-based business resource groups report) were not approved.
5.07 Submission of Matters to a Vote of Security Holders
Deere reports Q1 FY2026 net income of $656 million, raises FY2026 guidance to $4.5-$5.0 billion.
First quarter net income was $656 million, or $2.42 per diluted share, down from $869 million, or $3.19 per share, in the prior-year quarter.
Show detailsHide details
Worldwide net sales and revenues increased 13% to $9,611 million; net sales were $8,001 million, up from $6,809 million.
Segment operating profit: Production & Precision Ag fell 59% to $139 million; Small Ag & Turf rose 58% to $196 million; Construction & Forestry rose 111% to $137 million.
Fiscal 2026 net income guidance raised to a range of $4.5 billion to $5.0 billion.
Industry outlook for fiscal 2026 includes U.S. & Canada large ag down 15-20%, small ag & turf flat to up 5%, and construction equipment up ~5%.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits