Deere & Company · NYSE:DE
Deere & — Q3 2026 Earnings Presentation
19 slides from Deere &'s earnings presentation, Aug 20, 2026
Slide 1: 3Q 2026 Earnings Call
3Q 2026 Earnings Call 20 August 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements These materials and the accompanying earnings call include forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “forecast,” “guidan
Slide 3: 3Q 2026 Results
3Q 2026 Results ($ millions except where noted) Net Sales and Net Sales Net Income Diluted EPS (Equipment Operations) (attributable to ($ per share) Revenues Deere & Company) $12,018 $12,608 $10,357 $10,999 $1,379 $1,289 $5.10 $4.75 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 5%
Slide 4: Production & Precision Ag 3Q 2026 Results
Production & Precision Ag 3Q 2026 Results $ in millions Net Sales 6% Operating Profit Comparison $49 $0 ($95) $4,273 ($124) $108 $28 ($24) $3,998 $580 $5 $527 3Q 2025 3Q 2026 3Q 2025 Volume/ Price Currency Warranty Production SA&G/ Special Other 3Q 2026 Mix Costs R&D Items 4 John Deere | 3Q 2026 Ear
Slide 5: Small Ag & Turf 3Q 2026 Results
Small Ag & Turf 3Q 2026 Results $ in millions Net Sales 12% Operating Profit Comparison $12 $10 ($52) $51 $17 ($30) $3,383 $9 $120 $3,025 $622 $485 3Q 2025 3Q 2026 3Q 2025 Volume/ Price Currency Warranty Production SA&G/ Special Other 3Q 2026 Mix Costs R&D Items 5 John Deere | 3Q 2026 Earnings Call
Slide 6: Ag and Turf Industry Outlook FY 2026
Ag and Turf Industry Outlook (in units) – FY 2026 U.S. and CANADA U.S. and CANADA EUROPE AG LARGE AG SMALL AG and TURF Down 15-20% Flat to up 5% Flat SOUTH AMERICA AG ASIA AG (tractors and combines) Down 15-20% Flat Source: Deere & Company forecast as of 20 August 2026 6 John Deere | 3Q 2026 Earning
Slide 7: Production & Precision Ag Business Segment Outlook
Production & Precision Ag Business Segment Outlook $ in millions Net Sales Operating Margin ~10% 11-12% 15.4% $17,311 FY 2025 FY 2026 Fcst FY 2025 FY 2026 Fcst Source: Deere & Company forecast as of 20 August 2026 7 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 8: Small Ag & Turf Business Segment Outlook
Small Ag & Turf Business Segment Outlook $ in millions Net Sales Operating Margin ~15% 14.5-15.5% $10,224 11.8% FY 2025 FY 2026 Fcst FY 2025 FY 2026 Fcst Source: Deere & Company forecast as of 20 August 2026 8 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 9: Construction & Forestry 3Q 2026 Results
Construction & Forestry 3Q 2026 Results $ in millions Net Sales 18% Operating Profit Comparison $244 $10 ($35) $21 ($65) $3,618 $16 ($14) $3,059 $436 $22 $237 3Q 2025 3Q 2026 3Q 2025 Volume/ Price Currency Warranty Production SA&G/ Special Other 3Q 2026 Mix Costs R&D Items 9 John Deere | 3Q 2026 Ear
Slide 10: Construction & Forestry Industry Outlook
Construction & Forestry Industry Outlook (in units) – FY 2026 U.S. and CANADA U.S. and CANADA COMPACT CONSTRUCTION EQUIPMENT CONSTRUCTION EQUIPMENT Up 5-10% Up ~5% GLOBAL FORESTRY GLOBAL ROADBUILDING Down ~10% Up ~10% Source: Deere & Company forecast as of 20 August 2026 10 John Deere | 3Q 2026 Earn
Slide 11: Construction & Forestry Business Segment Outlook
Construction & Forestry Business Segment Outlook $ in millions Net Sales Operating Margin ~20% 10.5-11.5% $11,382 9.0% FY 2025 FY 2026 Fcst FY 2025 FY 2026 Fcst Source: Deere & Company forecast as of 20 August 2026 11 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 12: Financial Services Net Income – Results and Outlook
Financial Services Net Income – Results and Outlook $ in millions Quarter Results Fiscal Year Outlook $890 ~ $870 $205 $219 3Q 2025 3Q 2026 FY 2025 FY 2026 Fcst Source: Deere & Company forecast as of 20 August 2026 12 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 13: Deere & Company Outlook
Deere & Company Outlook FY 2026 FORECAST Net Income Effective Net Operating (attributable to Deere & Co.) Tax Rate* Cash Flow* $4.75-5.0B 24-26% $5.0-5.5B Research and Development Expenses* Up slightly Other Capital Expenditures* ~$1.3B *Equipment Operations Source: Deere & Company forecast as of 20
Slide 14: Appendix
Appendix 14 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 15: July 2026 Retail Sales and Dealer Inventories
July 2026 Retail Sales (Rolling 3 Months) and Dealer Inventories Retail Sales U.S. and Canada Ag Industry* Deere** 2WD Tractors (< 40 PTO hp) 20% Down more than the industry 2WD Tractors (40 < 100 PTO hp) 11% Down less than the industry 2WD Tractors (100+ PTO hp) 7% Down less than the industry 4WD T
Slide 16: July 2026 Retail Sales (Rolling 3 Months)
July 2026 Retail Sales (Rolling 3 Months) Retail Sales Europe Ag Deere* Tractors Down low double digits Combines Up high single digit Retail Sales U.S. and Canada Deere* Selected Turf and Utility Equipment Down single digit Earthmoving and Forestry Up single digit * Based on internal sales reports 1
Slide 17: Deere Use-of-Cash Priorities
Deere Use-of-Cash Priorities CASH FROM OPERATIONS Equipment Operations Cash Flow from Operating Activities Manage the balance sheet, including liquidity, to support a rating that provides COMMITTED access to low-cost and readily available short- and long-term funding TO “A” RATING mechanisms (reflec
Slide 18: 4Q 2026 earnings call scheduled for 25 November 2026
Deere & Company’s 4Q 2026 earnings call is scheduled for 9:00 a.m. Central Time on Wednesday, 25 November 2026. 18 John Deere | 3Q 2026 Earnings Call | August 20, 2026
Slide 19: John Deere
@ JOHN DEERE