Deere Profit Sinks as Tariffs Weigh on Margins
By Nicholas G. Miller
Deere posted lower first-quarter profit, which was dragged down by tariffs and weak tractor demand.
The company posted net income of $656 million, or $2.42 a share, down from $869 million, or $3.19 a share, the year before. Analysts polled by FactSet had expected $2.02 a share.
Net sales and revenue rose 13% to $9.61 billion, boosted by a 34% increase in net sales for its construction and forestry division and 24% net sales growth for its small agriculture and turf segment.
The company raised its fiscal-year net income guidance to $4.5 billion to $5 billion, up from its previous forecast of $4 billion to $4.75 billion. Analysts see $4.43 billion.
"While the global large agriculture industry continues to experience challenges, we're encouraged by the ongoing recovery in demand within both the construction and small agriculture segments," said Chief Executive John May.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
February 19, 2026 06:33 ET (11:33 GMT)
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