Deere reported third-quarter net income of $1.38 billion for fiscal 2026, up from $1.29 billion a year earlier. According to Sina Finance, net sales and revenue rose 6.2% to $11 billion, beating Wall Street's forecast of $10.81 billion.

Earnings per share came in at $5.10, above the $4.69 estimate from FactSet analysts. Total revenue was $12.61 billion.

Deere's largest business segment, production and precision agriculture, posted sales of $4 billion, down 6.4% from a year earlier. Construction and forestry sales jumped 18% to $3.62 billion, while small agriculture and turf sales rose 12% to $3.38 billion.

Chief Executive Officer John May said Deere still believes 2026 will be the bottom of the current agricultural equipment cycle. The company raised the lower end of its full-year net income guidance to $4.75 billion, while keeping the upper end unchanged at $5 billion. Shares rose 3.9% in early Thursday trading to $603.