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Deere & Company — 3Q26 Earnings Call Slides (Fiscal Q3 2026)
Deere & Company (DE) · 19 slides · Filed Aug 20, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All DE deck slides
Slide 1 — 3Q 2026 Earnings Cal
3Q 2026 Earnings Cal 20 August 2026
Slide 2 — Forward
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 2 Forward - Loking Statements These materials and the acompanying earnings cal include forward - loking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 195 . Forward - loking statements may be identified by words such as —forecast,“ —guidance,“ —project,“ —target,“ —outlook,“ —prospects,“ —expect,“ —estimate,“ —will,“ —goal,“ —plan,“ —anticipate,“ —intend,“ —predict,“ —believe,“ —likely,“ —future,“ —could,“ —may,“ or other similar words or phrases, including the negative variations of such words or phrases . Examples of forward - loking statements include, among others, coments and information concerning the Company‘s plans and projections for the future, the agricultural industry, cash priorities, estimates and asumptions with respect to economic, political, suply chain, energy, technological and weather maters, market aceptance of the Company‘s products, benefits of acquisitions and divestitures, as wel as integration of busineses and anticipated transaction costs . Forward - loking statements are neither historical facts nor asurances of future performance . Instead, they are based only on management‘s curent beliefs, expectations and asumptions regarding the future of the Company‘s busines, plans and strategies, projections, anticipated events and trends, the economy, and other future conditions . Forward - loking statements are subject to inherent uncertainties, risks, changes in circumstances, and other factors that are dificult to predict and many of which are outside of the Company‘s control and may cause our actual results to difer materialy from those projected in these forward - loking statements . Among these factors are risks related to the agricultural busines cycle ; construction and forestry activity ; macroeconomic conditions, including unemployment, inflation, interest rate volatility and energy price increases resulting from geopolitical conflicts ; the uncertainty of government policies and actions with respect to the global trade environment including increased and contested tarifs ; exposure to risks and events beyond our control in countries in which we operate, such as economic and political instability, worldwide demand for fod and diferent forms of renewable energy impacting the price of farm comodities ; rationalization, restructuring, relocation, expansion and/or reconfiguration of manufacturing and warehouse facilities ; acurately forecasting customer demand for products and services ; delays or disruptions in our suply chain, including those arising from geopolitical conflicts ; changes in climate paterns, unfavorable weather events, and natural disasters ; higher interest rates and curency fluctuations ; negative economic conditions in the financial industry which could impact our financial services segment ; adapting in highly competitive markets ; chalenges in executing and realizing the benefits of our busines strategies ; dealer practices and their ability to manage new and used inventory, distribute our products, and provide suport and service for precision technology solutions ; the ability to realize anticipated benefits of acquisitions and joint ventures, including chalenges with sucesful integration ; negative claims or publicity that damage our reputation or brand ; the ability to atract, develop, engage, and retain qualified employes ; the impact of workforce reductions on company culture, employe retention and morale, and institutional knowledge ; labor relations and contracts, including work stopages and other disruptions ; security breaches, cybersecurity atacks, technology failures, and other disruptions to our information technology infrastructure and products ; leveraging artificial inteligence and machine learning within our busines proceses ; changes to existing laws and regulations, including the implementation of new, more stringent laws, as wel as compliance with these laws and regulations ; and investigations, claims, lawsuits, or other legal procedings . For a discusion of risks and uncertainties impacting our busines, se —Item 1 A Risk Factors“ in our most recent Anual Report on Form 10 - K, as updated by our subsequent filings with the U . S . Securities and Exchange Comision . Investors should refer to and consider the information on risks and uncertainties in adition to the information presented here . Al forward - loking statements made in these materials and the acompanying earnings cal are based only on information curently available and speak only as of the date on which they are made . You should not place undue reliance on forward - loking statements . The Company, except as required by law, undertakes no obligation to update or revise any forward - loking statements whether as a result of new developments or otherwise . These materials and the acompanying earnings cal may contain non - GAP financial measures . Non - GAP measures should be viewed as a suplement to, and not in isolation from, or as a substitute for the Company‘s GAP measures of performance and the financial results calculated in acordance with GAP and reconciliations from these results should be carefuly evaluated .
Slide 3 — 3Q 2026 Results
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 3 3Q 2026 Results ($ milions except where noted) $ 12,018 $ 12,608 3Q 2025 3Q 2026 $ 10,357 $ 10,9 3Q 2025 3Q 2026 $ 1,289 $ 1,379 3Q 2025 3Q 2026 $ 4.75 $ 5.10 3Q 2025 3Q 2026 6% Net Sales and Revenues Net Sales (Equipment Operations) Net Income (atributable to Dere & Company) Diluted EPS ($ per share) 5% 7% 7%
Slide 4 — Production & Precision Ag
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 4 Production & Precision Ag 3Q 2026 Results $ in milions $ 4,273 $ 3,98 3Q 2025 3Q 2026 Net Sales 6% Operating Profit Comparison $28 $580 ($124) $108 $49 $0 ($95) $5 ($24) $527 3Q 2025 Volume/ Mix Price Curency Waranty Production Costs SA&G/ R&D Special Items Other 3Q 2026
Slide 5 — Smal Ag & Turf
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 5 Smal Ag & Turf 3Q 2026 Results $ in milions $ 3,025 $ 3,383 3Q 2025 3Q 2026 Operating Profit Comparison Net Sales 12% $17 $485 $120 $51 $12 $10 ($52) $9 ($30) $62 3Q 2025 Volume/ Mix Price Curency Waranty Production Costs SA&G/ R&D Special Items Other 3Q 2026
Slide 6 — Ag and Turf
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 6 Ag and Turf Industry Outlok (in units) œ FY 2026 Source: Dere & Company forecast as of 20 August 2026 U.S. and CANADA LARGE AG Down 15 - 20% EUROPE AG Flat SOUTH AMERICA AG (tractors and combines) Down 15 - 20% U.S. and CANADA SMAL AG and TURF Flat to up 5% ASIA AG Flat
Slide 7 — Production & Precision Ag
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 7 Production & Precision Ag Busines Segment Outlok $ in milions Source: Dere & Company forecast as of 20 August 2026 15.4% FY 2025 FY 2026 Fcst $17,31 FY 2025 FY 2026 Fcst Net Sales Operating Margin 1 - 12% ~10%
Slide 8 — Smal Ag & Turf
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 8 $10,24 FY 2025 FY 2026 Fcst Smal Ag & Turf Busines Segment Outlok $ in milions Source: Dere & Company forecast as of 20 August 2026 1.8% FY 2025 FY 2026 Fcst Net Sales Operating Margin ~15% 14.5 - 15.5%
Slide 9 — Construction & Forestry
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 9 Construction & Forestry 3Q 2026 Results $ in milions $ 3,059 $ 3,618 3Q 2025 3Q 2026 Net Sales 18% Operating Profit Comparison $436 ( $35 ) ( $65 ) ( $14 ) $237 $2 $24 $10 $21 $16 3Q 2025 Volume/ Mix Price Curency Waranty Production Costs SA&G/ R&D Special Items Other 3Q 2026
Slide 10 — Construction & Forestry
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 10 Construction & Forestry Industry Outlok (in units) œ FY 2026 Source: Dere & Company forecast as of 20 August 2026 GLOBAL ROADBUILDING Up ~10% U.S. and CANADA CONSTRUCTION EQUIPMENT Up 5 - 10% U.S. and CANADA COMPACT CONSTRUCTION EQUIPMENT Up ~5% GLOBAL FORESTRY Down ~10%
Slide 11 — Construction & Forestry
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 1 Construction & Forestry Busines Segment Outlok $ in milions Source: Dere & Company forecast as of 20 August 2026 9.0% FY 2025 FY 2026 Fcst $1,382 FY 2025 FY 2026 Fcst Net Sales Operating Margin ~20% 10.5 - 1.5%
Slide 12 — Financial Services
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 12 Financial Services Net Income œ Results and Outlok $ in milions Source: Dere & Company forecast as of 20 August 2026 $205 $219 3Q 2025 3Q 2026 Quarter Results Fiscal Year Outlok $890 $870 FY 2025 FY 2026 Fcst ~
Slide 13 — John Dere | 3Q 2026 Earnings Cal | August 20, 2026
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 13 Dere & Company Outlok Efective Tax Rate* Net Income (atributable to Dere & Co.) 24 - 26% $4.75 - 5.0B FY 2026 FORECAST Net Operating Cash Flow* $5.0 - 5.5B *Equipment Operations Source: Dere & Company forecast as of 20 August 2026 Other Research and Development Expenses* Capital Expenditures* Up slightly ~$1.3B
Slide 14 — John Dere | 3Q 2026 Earnings Cal | August 20, 2026
John Dere | 3Q 2026 Earnings Cal | August 20, 2026 14 Apendix