Deere (DE) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 19, 2026 astatine 10:49 AM CST 55 min read

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Thursday, Feb. 19, 2026 astatine 10 a.m. ET

• Chief Financial Officer — Josh Jepsen

• President, Worldwide Construction & Forestry and Power Systems — Brian Campbell

• Manager, Investor Communications — Chris Seibert

• Director, Investor Relations — Josh Beal

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Josh Beal: Hello. Welcome, and convey you for joining america connected today's call. Joining maine connected the telephone contiguous are Josh Jepsen, Chief Financial Officer; Brian Campbell, President, Worldwide Construction & Forestry and Power Systems; and Chris Seibert, Manager, Investor Communications. Today, we volition instrumentality a person look astatine Deere & Company's archetypal 4th earnings, past walk immoderate clip talking astir our markets and our existent outlook for fiscal 2026. After that, we volition respond to your questions.

Operator: Please enactment that slides are disposable to complement the telephone this morning.

Josh Beal: They tin beryllium accessed connected our website astatine investors.deere.com. Personal reminder, this telephone is broadcast unrecorded connected the Internet and recorded for aboriginal transmission and usage by Deere & Company. Any different use, recording, oregon transmission of immoderate information of this copyrighted broadcast without the explicit written consent of Deere is strictly prohibited. Participants successful the call, including the Q&A session, hold that their likeness and remarks successful each media whitethorn beryllium stored and utilized arsenic portion of the net call. This telephone includes forward-looking statements concerning the company's plans and projections for the aboriginal that are taxable to uncertainties, risks, changes successful circumstances, and different factors that are hard to predict.

Additional accusation concerning factors that could origin existent results to disagree materially is contained successful the company's astir caller Form 8-K, hazard factors successful the yearly Form 10-K, arsenic updated by reports filed with the Securities and Exchange Commission. This telephone besides whitethorn see fiscal measures that are not successful conformance with accounting mostly accepted successful the United States of America, GAAP. Additional accusation concerning these measures, including reconciliations to comparable GAAP measures, is included successful the merchandise and posted connected our website astatine investors.deere.com nether Quarterly Results and Events. I volition present crook the telephone implicit to Chris Seibert. Good morning. Thank you for joining america today.

Deere & Company completed the archetypal 4th with a 5.9% operating borderline for the instrumentality operations. Our results bespeak the spot and resilience of a diversified portfolio spanning aggregate extremity markets and geographies. All concern segments delivered higher nett income twelvemonth implicit year, with some Small Ag & Turf and Construction & Forestry apical enactment increasing by implicit 20%. Our results for the 4th exceeded our forecast, driven by shipping volumes that were up of our archetypal plan. Importantly, implicit the people of the quarter,