Deere Q3 profit rises as construction offsets farm weakness

Earnings
โดย Yahoo Finance·US·Read original
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Deere & Company reported third-quarter net income of $1.379 billion, its first year-over-year profit gain in roughly three years, as construction equipment demand offset weakness in large farm machinery. Earnings were $5.10 per diluted share, up from $4.75 a year earlier, while total net sales and revenues rose 5% to $12.61 billion. The construction and forestry segment drove results with net sales up 18% to $3.62 billion and operating profit up 84% to $436 million, while the small agriculture and turf segment posted a 12% revenue gain to $3.38 billion. Production and precision agriculture, the company's largest segment, saw net sales slip 6% to $3.998 billion and operating profit fall 9% to $527 million on reduced shipment volumes. Deere raised the low end of its full-year net income guidance to $4.75 billion from $4.5 billion, keeping the top end at $5 billion, and affirmed that 2026 represents the bottom of the current agriculture equipment cycle.

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Q3 earnings beat and raised full-year guidance

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