10-Q quarterly report · filed Feb 26, 2026

Deere & Company (DE) Q1 2026 10-Q Quarterly Report

Short answer

Deere & Company (DE) filed its Q1 2026 10-Q quarterly report on Feb 26, 2026 for the quarter ended Feb 1, 2026. Quarterly revenue was $9.6B (up 13.0% year over year) with net income of $656M.

Q1 2026 key financials · XBRL

Revenue
$9.6B
+13.0% YoY
Net income
$656M
−24.5% YoY
EPS (diluted)
$2.42
−24.1% YoY

Source: XBRL data from the Deere & Company (DE) Q1 2026 10-Q on SEC EDGAR. USD.

Deere & Company Q1 2026 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Revenue $9,611M Q1 FY2026 vs $8,508M Q1 FY2025, up 13% YoY; driven by higher volumes +$988M and FX translation +$227M
  • Cost of sales ratio 78.5% vs 74.0% YoY, worsened by $361M pretax incremental tariffs; diluted EPS $2.42 vs $3.19 YoY
  • Best segment CF: net sales +34% to $2,670M, operating margin 5.1% vs 3.3% YoY; worst segment PPA: operating margin 4.4% vs 11.0% YoY on higher tariffs and unfavorable mix
  • Cash $8,196M vs $9,687M at fiscal year-end; operating cash outflow $(890)M vs $(1,132)M YoY; $743M returned to shareholders via buybacks and dividends
  • Tariff headwind $361M pretax in Q1 alone; Supreme Court IEEPA ruling Feb 20 may provide partial relief; 2026 guidance calls for net sales growth with PPA decline offset by CF and SAT gains

Risk Factors

  • Cyclical demand in agriculture/construction equipment highly sensitive to commodity prices, farm income, and global economic conditions
  • Tariff and trade policy uncertainty: cross-border supply chains expose Deere to retaliatory measures affecting input costs and export competitiveness
  • Financial Services segment carries credit/counterparty risk tied to borrower health in volatile ag markets
  • Currency exposure across major markets (EUR, BRL, CAD, AUD) can materially impact translated revenues and margins

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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