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Deere & Company sells equipment and technology to farmers, mowing businesses, construction operators and forestry customers. Its customers' own profitability influences their willingness and ability to buy durable machines. Equipment revenue must cover manufacturing, development and selling costs. John Deere Financial can help finance purchases and other operating needs, earning finance and interest income while bearing funding costs and credit exposure. Equipment sales and financing are different economic engines; selling more machines does not automatically mean stronger earnings or cash. Deere’s reporting year ends around November; year and quarter labels follow that calendar.
Management expects 2026 Small Agriculture & Turf and Construction & Forestry sales improvements to more than offset weaker Production & Precision Agriculture sales. This is an outlook, rather than proof that the offset has already occurred. The owner question is whether strength in other equipment markets also carries earnings and cash through weaker large agriculture.
Net sales reached $30,779 million in the first nine months of 2026, versus $28,338 million in the first nine months of 2025. Consolidated pretax income also rose, but attributable net income and operating cash declined while the income-tax increased. The recovery has not reached every owner outcome.
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