Deere & Company reported fiscal third-quarter net income of $1.38 billion. Earnings reached $5.10 per share. This result beat the average Wall Street estimate of $4.79 per share.
Quarterly revenue totaled $12.61 billion. This figure exceeded the analyst expectation of $10.81 billion.
The company raised its full-year net income forecast to a range of $4.75 billion to $5 billion. Strong demand in Construction & Forestry and Small Agriculture & Turf drove the results.
CEO John May projected the agricultural equipment cycle will bottom in 2026. Shares of Deere & Co. rose 2% in pre-market trading following the announcement.
The performance serves as a key indicator for the health of the construction and agricultural markets.