Deere & Company · DE · Next earnings

Deere & Company reports Wednesday, Nov 25, 2026

DE reports before market open with consensus EPS at $4.04 and revenue at $10.42B. Last quarter: Deere Q2 EPS Beats by 15% as Construction Surges; Large Ag Still Soft

Reports Before market open66 days awayDate estimated Industrials

What the street expects

Consensus for the coming report
Consensus EPS $4.04 Calendar consensus
Consensus revenue $10.42B Calendar consensus
Report date Nov 25, 2026 Wednesday, date estimated
Session Before market open 66 days away

Where DE left off: FY2026 Q2

Full report

Deere Q2 EPS Beats by 15% as Construction Surges; Large Ag Still Soft

EPS surprise +14.9% Reported $6.55 vs $5.70
Revenue surprise +2.0% Reported $11.78B vs $11.55B
Stock move -5.2% Event window
Subsequent drift +12.7% Up to 20 sessions

Management maintained the overall FY26 net income outlook while raising Construction & Forestry full-year net sales guidance by approximately 20%. Net price realization is targeted at 1.5-2% for FY26. Capex outlook increased, with the $20B US manufacturing investment program continuing over the next decade. Tariff exposure remains approximately $1B. This represents a step-down from Q1, where guidance was raised across both Small Ag & Turf and C&F, and the net income forecast was set at $4.5-5.0B. The maintained overall outlook suggests management sees large ag weakness offsetting construction strength at the total-company level.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Ongoing tariff exposure of approximately $1B and broader trade policy uncertainty
  • Rising fuel, fertilizer, and material costs pressuring large ag margins
  • Geopolitical tensions including Iran conflict and Brazil currency volatility affecting South American operations
  • High interest rates constraining farmer financing and equipment purchases
  • Labor scarcity and supply-chain constraints limiting production scaling

Questions analysts left open

  • Impact of tariffs on margins and whether the IEEPA refund masks underlying margin compression
  • Price realization of 1.5-2% versus inflation and whether that is achievable
  • Regional demand softness, especially in South America and Brazil
  • Inventory levels and future order-book health in large ag
  • Comparative pricing conservatism versus competitor pricing actions

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Recent DE quarters

All DE earnings
-5.2%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.