Citable filing context

DE filing events and research context

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DE's research view summarizes recent SEC filing context, starting with earnings from May 21, 2026.

DE filing events and research context
FiledItemContext
May 21, 2026earningsDeere reported Q2 2026 net income of $1.773 billion ($6.55/share) on $13.369 billion net sales and revenues.
May 1, 2026management_changeDeere & Company elected T. Brent Norwood as Senior Vice President and CFO, effective May 1, 2026, replacing Ryan D. Campbell.
Mar 16, 2026otherDeere & Company approved $35 million in one-time performance-based restricted stock units for executive officers.
May 21, 2026Guidance: asia_ag_turf_growth0.00 to not reported
May 21, 2026Guidance: compact_construction_equipment_us_canada_growth5.00 to not reported
May 21, 2026Guidance: construction_equipment_us_canada_growth5.00 to not reported
May 28, 2026mda_quarterlyDeere & Company reported a 5% increase in net sales for the quarter and 8% year-to-date, reaching $13.369 billion and $22.981 billion respectively, driven by higher volumes and foreign currency translation. However, net income decreased 2% for the quarter and 9% year-to-date, primarily due to lower Production & Precision Agriculture (PPA) shipment volumes and increased production costs. PPA sales declined 14% for the quarter and 8% year-to-date, mainly in North America and Brazil, with operating profit down significantly. In contrast, Small Agriculture & Turf (SAT) sales rose 16% (Q) and 19% (YTD), and Construction & Forestry (CF) sales increased 29% (Q) and 31% (YTD), both benefiting from higher volumes and favorable pricing. For 2026, the company anticipates overall net sales growth, with improvements in CF and SAT offsetting expected declines in large agriculture sales in North and South America due to elevated farm input costs and market uncertainty. Key risks include the agricultural market cycle, global trade policies, and an ongoing FTC lawsuit alleging monopolization in equipment repair. Tariffs negatively impacted costs, but a $272 million refund claim was accepted. Financial Services net income increased due to favorable financing spreads and lower credit loss provisions. Operating cash flows improved, though cash used for financing activities rose due to increased shareholder returns and reduced borrowings.
Feb 26, 2026mda_quarterlyDeere & Company reported a 13% increase in Q1 2026 net sales and revenues to $9.61 billion, driven by higher sales volumes and favorable foreign currency translation. However, net income decreased 24% to $656 million, primarily due to a $361 million pre-tax impact from incremental tariffs and unfavorable prior-period tax adjustments. For 2026, the company expects overall net sales to increase, with anticipated declines in Production & Precision Agriculture (PPA) sales, particularly large agriculture in North and South America, being more than offset by improvements in Small Agriculture & Turf (SAT) and Construction & Forestry (CF) segments. Q1 saw SAT sales up 24% from higher volumes and demand, and CF sales surged 34% due to strong U.S. construction market demand. PPA operating profit fell 59% in Q1 due to tariffs, unfavorable sales mix, and warranty expenses. Financial Services net income rose 6% from favorable financing spreads and lower credit losses. Key risks include the agricultural market business cycle, potentially leading to lower sales volumes and higher sales incentives, and evolving global trade policies, including the significant tariff impact and uncertainty from a recent Supreme Court decision invalidating certain tariffs. The ongoing FTC antitrust lawsuit regarding repair access also presents an unquantified risk. The company maintains strong liquidity with $8.2 billion in cash and $7.2 billion in unused credit lines.

Source: SEC EDGAR filing text and events; period May 21, 2026; filed May 21, 2026.

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