Filing Flows › Deere (DE) › Q1 FY26
Deere (DE) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 26, 2026
Deere (DE) reported revenue of $9.6B for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -22% from the quarter before. Operating margin was 8.7%, net earnings $655M (6.8% of revenue).
Deere, Q1 FY26: revenue $9.6B (+13% year over year), operating margin 8.7%, net earnings $655M, operating cash flow −$890M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.6B | -22% | +13% |
| Operating profit | $836M | -41% | -7% |
| Net earnings | $655M | -38% | -24% |
| Operating cash flow | −$890M | -122% | — |
What changed
Revenue was $9.6B in Q1 FY26, up 13% year over year and down 22% from the previous quarter. Net Sales was the largest line at 83% of revenue. Net Sales added $1.2B year over year (up 18%), 108% of the total change.
Operating profit was $0.84B, a 8.7% margin (down 1.8 points year over year). Operating profit fell $0.06B even though revenue rose $1.1B versus a year earlier, so costs grew faster than sales. Total costs grew 15% against revenue growth of 13%. The fastest-growing cost line was Other operating costs (+19%). Net earnings were $0.66B, down 25% year over year. The effective tax rate was 23.0%.
Operating cash flow was −$0.89B. Non-cash charges added back $0.59B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $2.2B. Capital expenditures of $0.26B exceeded it, leaving free cash flow of −$1.1B.
Questions
What was Deere's revenue in the first quarter fiscal 2026?
Deere (DE) reported revenue of $9.6B for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -22% from the quarter before.
Was Deere profitable in the first quarter fiscal 2026?
Operating profit was $836M (8.7% of revenue) and net earnings $655M.
Source: Deere 10-Q on SEC EDGAR.