Deere & Company (NYSE:DE) posted upbeat fourth-quarter results and issued a worse-than-expected fiscal 2026 outlook on Wednesday.
The heavy machinery maker reported earnings per share of $3.93, beating the consensus of $3.88. It reported an 11% year-over-year (Y/Y) increase in quarterly sales to $12.39 billion, beating the consensus of $9.85 billion.
"This past year brought its share of challenges and uncertainty, but thanks to the structural improvements we've made and the diverse customer segments and geographies we serve, we were able to achieve our best results yet for this point in the cycle," said John May, chairman and CEO of John Deere.
Deere expects fiscal 2026 net income of $4.0 billion to $4.75 billion, implying a year-over-year decline of 20% to 5.5%, and projects operating cash flow of $4.0 billion to $5.0 billion. For fiscal 2026, Deere expects production and precision agriculture sales to fall 5% to 10%, while small agriculture and turf revenue, as well as construction and forestry sales, are each projected to rise by about 10%.
Deere shares rose 0.6% to trade at $472.82 on Friday.
These analysts made changes to their price targets on Deere following earnings announcement.
- RBC Capital analyst Sabahat Khan maintained Deere with an Outperform rating and lowered the price target from $542 to $541.
- Truist Securities analyst Jamie Cook maintained the stock with a Buy and raised the price target from $609 to $612.
- Evercore ISI Group analyst David Raso maintained Deere with an In-Line rating and lowered the price target from $487 to $458.
Considering buying DE stock? Here’s what analysts think:
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