Filing Flows › Deere (DE) › Q3 FY26 › vs Q2 FY26
Deere (DE) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Deere's revenue fell $761M (-6%) from $13.4B in Q2 FY26 to $12.6B in Q3 FY26. Operating margin 14.9% against 17.2% (-2.2 pts).
Deere, Q3 FY26: revenue $12.6B (+5% year over year), operating margin 14.9%, net earnings $1.4B, operating cash flow $2.2B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 14.9% | 17.2% | -2.2 pts |
| Net margin | 10.9% | 13.3% | -2.3 pts |
| Free cash flow margin | 15.4% | 13.0% | +2.4 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $12.6B | $13.4B | −$761M | -6% |
| Operating profit | $1.9B | $2.3B | −$411M | -18% |
| Costs & expenses | $10.7B | $11.1B | −$350M | -3% |
| Pre-tax earnings | $1.9B | $2.3B | −$387M | -17% |
| Research & development | $567M | $583M | −$16.0M | -3% |
| SG&A | $1.2B | $1.2B | $11.0M | +0.9% |
| Other operating costs | $8.9B | $9.3B | −$345M | -4% |
| Loss borne by minority interests | $2.0M | $3.0M | −$1.0M | -33% |
| Net earnings | $1.4B | $1.8B | −$394M | -22% |
| Income tax | $529M | $518M | $11.0M | +2% |
| Depreciation & amortization | $603M | $594M | $9.0M | +2% |
| Share-based compensation | $47.0M | $28.0M | $19.0M | +68% |
| Working capital & other | $179M | −$463M | $642M | — |
| Operating cash flow | $2.2B | $1.9B | $276M | +14% |
| Free cash flow (OCF − capex) | $1.9B | $1.7B | $206M | +12% |
| Capital expenditures | $265M | $195M | $70.0M | +36% |
Questions
How much did Deere's revenue grow quarter over quarter in Q3 FY26?
Deere's revenue fell $761M (-6%) from $13.4B in Q2 FY26 to $12.6B in Q3 FY26. Operating margin 14.9% against 17.2% (-2.2 pts).