Deere Tops Q2 Estimates but Narrows Outlook Amid Weak Equipment Demand

Deere & Company (NYSE:DE) beat second-quarter expectations on both earnings and revenue, but trimmed the lower end of its full-year profit outlook as softening demand weighs on its core agricultural equipment business. The company’s shares closed more than 3% higher today.

For the quarter, the company reported adjusted earnings per share of $6.64, comfortably ahead of the $5.56 analyst consensus. Revenue also outperformed, rising to $12.76 billion versus expectations of $10.98 billion.

Despite the beat, shipment volumes declined across key segments, with Production & Precision Agriculture sales down 21% year-over-year. Still, Deere managed to preserve strong operating margins, showcasing disciplined cost control amid the downturn.

The company now expects full-year net income between $4.75 billion and $5.50 billion, adjusting the bottom of its prior $5.0–$5.5 billion range to reflect ongoing market headwinds.