John Deere 2025 Fiscal Results and 2026 Projections

The provided source is a Deere & Company news release and associated financial statements detailing performance for the fiscal year and fourth quarter ended November 2, 2025. The company reported full-year net income of $5.027 billion, a significant decrease from the prior year, attributing the results to challenging market conditions and higher production costs exacerbated by tariffs. While the Production & Precision Agriculture segment and the Small Agriculture & Turf segment saw operating profit declines, the Financial Services division reported a 69% increase in net income for the fourth quarter. Management anticipates that 2026 will mark the bottom of the large agricultural cycle, projecting next year’s net income to fall between $4.00 billion and $4.75 billion. The outlook suggests that improving trends in small agriculture and construction are necessary to offset continued weakness in the large agriculture sector. Additionally, the documents disclose numerous risk factors impacting future results, including global trade instability and ongoing litigation regarding self-repair capabilities.