Deere Q2 Results Beat Expectations, Analysts Raise Full-Year Earnings Guidance

Deere & Company reported better-than-expected second-quarter financial results on Thursday and raised its full-year net income outlook.

Earnings per share of $5.10 surpassed the $4.70 estimate. Net sales and revenue rose 5% to $12.608 billion, exceeding the $10.73 billion expectation.

Deere raised its fiscal 2026 net income outlook to between $4.75 billion and $5 billion. The company expects equipment operations net operating cash flow of $5 billion to $5.5 billion. Capital expenditures are projected at approximately $1.3 billion, with research and development spending expected to increase slightly.

"Looking ahead, we continue to believe 2026 will mark the bottom of the current agricultural equipment cycle," said Chairman and CEO John C. May.

Deere shares rose 0.5% on Friday, trading at $623.93.

The following analysts adjusted their price targets following Deere's results.

Baird analyst Mircea Dobre maintained a Neutral rating on the stock, raising the price target from $525 to $640.

Oppenheimer analyst Noah Kaye maintained an Outperform rating, raising the price target from $680 to $685.

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