Deere & Company (DE) Q1 2026 10-Q Quarterly Report
Deere & Company (DE) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Feb 26, 2026 for the fiscal period ending Feb 1, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Deere & Company Q1 2026 10-Q Analysis
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
Deere & Company Q1 2026 Quarterly FinancialsXBRL
Revenue
$9.6B
▲ +13.0% YoY
Net Income
$656M
▼ -24.5% YoY
Net Margin
6.8%
▼ -339bp YoY
ROE
2.5%
Total Assets
$103.4B
▼ -2.4% QoQ
EPS (Diluted)
$2.42
▼ -24.1% YoY
Operating Cash Flow
-$890M
▲ +21.4% YoY
Source: XBRL data from Deere & Company Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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