Deere and Company raises annual profit forecast as cost cuts offset weak demand
Deere boosted its net income outlook today after reporting a revenue increase in the first quarter. CEO John May expects 2026 to mark the bottom of the cycle.
Insights:
Deere & Company announced on February 19, 2026, that it has raised its full-year fiscal 2026 net income forecast to a range of $4.5 billion to $5.0 billion, an increase from its previous guidance of $4.0 billion to $4.75 billion. The company also reported first-quarter revenue of $9.61 billion, marking a 13% increase compared to the same period last year. This announcement coincided with a 2% rise in the company’s shares during premarket trading.
