By: Gretchen Teske
Source: Quad City Times, Davenport, Iowa (TNS)
Deere & Company released its fourth quarter results Wednesday morning, showing income is down compared to the same period last year.
Construction Sales Rise 27% in Q4
Sales of construction and forestry equipment totaled $3.38 billion in the fourth quarter, up 27%. Sales for the fiscal year ending November 2 were $11.4 billion, down 12%. Operating profit for the year was down 49% in construction.
Deere’s reported net income for the fourth quarter, ended Nov. 2, 2025, was $1.065 billion, or $3.93 per share. That’s down from $1.245 billion, or $4.55 per share, for the quarter ended Oct. 27, 2024.
The outlook for fiscal 2026 is flat to up 5% for both construction and compact equipment. Roadbuilding, which includes Wirtgen, is expected to be flat.
—Rod Sutton, editorial director
For fiscal year 2025, net income attributable to Deere & Company was $5.027 billion, or $18.50 per share, down from $7.100 billion, or $25.62 per share, reported in fiscal 2024.
Worldwide net sales and revenues increased 11%, to $12.394 billion, for the fourth quarter of 2025 and decreased 12%, to $45.684 billion, for the full year. Net sales were $10.579 billion for the quarter and $38.917 billion for the year, compared with $9.275 billion and $44.759 billion in fiscal 2024, respectively.
“This past year brought its share of challenges and uncertainty, but thanks to the structural improvements we’ve made and the diverse customer segments and geographies we serve, we were able to achieve our best results yet for this point in the cycle,” John May, chairman and CEO, said in a news release. “Our continued commitment to delivering customer value and focusing on operational efficiency enabled us to remain resilient and demonstrate the strength of our business.”
Net income attributable to Deere & Company for fiscal 2026 is forecast to be in a range of $4.00 billion to $4.75 billion.
“Looking ahead, we believe 2026 will mark the bottom of the large ag cycle,” May said. “While ongoing margin pressures from tariffs and persistent challenges in the large ag sector remain, our commitment to inventory management and cost control, coupled with expected growth in small agriculture & turf and construction & forestry, positions us to effectively manage the business and seize emerging opportunities as market conditions begin to recover.”
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