Filing Flows › Deere (DE) › Q2 FY26
Deere (DE) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 28, 2026
Deere (DE) reported revenue of $13.4B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +39% from the quarter before. Operating margin was 17.2%, net earnings $1.8B (13.2% of revenue).
Deere, Q2 FY26: revenue $13.4B (+5% year over year), operating margin 17.2%, net earnings $1.8B, operating cash flow $1.9B. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.4B | +39% | +5% |
| Operating profit | $2.3B | +174% | -2% |
| Net earnings | $1.8B | +170% | -2% |
| Operating cash flow | $1.9B | — | +14% |
| Free cash flow | $1.7B | — | +16% |
What changed
Revenue was $13.4B in Q2 FY26, up 5% year over year and up 39% from the previous quarter. Net Sales was the largest line at 88% of revenue. Net Sales added $0.61B year over year (up 5%), 100% of the total change.
Operating profit was $2.3B, a 17.2% margin (down 1.2 points year over year). Operating profit fell $0.04B even though revenue rose $0.61B versus Q2 FY25, so costs grew faster than sales. Total costs grew 6% against revenue growth of 5%. Net earnings were $1.8B, down 2% year over year. The effective tax rate was 22.6%.
Operating cash flow was $1.9B (up 14% year over year), 109% of net earnings. Non-cash charges added back $0.59B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.46B. Capital expenditures of $0.20B left free cash flow of $1.7B.
Questions
What was Deere's revenue in the second quarter fiscal 2026?
Deere (DE) reported revenue of $13.4B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +39% from the quarter before.
Was Deere profitable in the second quarter fiscal 2026?
Operating profit was $2.3B (17.2% of revenue) and net earnings $1.8B.
Source: Deere 10-Q on SEC EDGAR.