Deere (NYSE: DE) Q2 2026 EPS of $6.55 Tops Estimates as Construction Offsets Farm Slump

Deere & Company (NYSE: DE) reported fiscal second-quarter 2026 EPS of $6.55, topping the Wall Street consensus of $5.70, as strength in its construction equipment segment helped cushion ongoing weakness in agricultural markets. Revenue came in at $13.37 billion, beating analyst expectations, and the company held its full-year net income guidance at $4.5 billion to $5 billion. Shares were trading at $517.58 on Thursday, May 21, 2026, down sharply on the session.

Q2 2026 Results

• EPS: $6.55 reported vs. $5.70 consensus estimate — a beat of $0.85 per share.
• Revenue: $13.37 billion, exceeding Wall Street expectations for the quarter.
• Full-year net income guidance: Maintained at $4.5 billion to $5 billion.
• Segment dynamic: Construction equipment performance offset weakness in the farm equipment business, according to Yahoo Finance reporting.
• Disclosure: Results were filed with the SEC via an 8-K on May 21, 2026, covering Results of Operations and Regulation FD Disclosure.

What Drove the Results

According to Yahoo Finance, farmers have been facing sustained financial pressure, weighing on demand for agricultural equipment — Deere's historically core business. The construction segment's relative resilience provided a partial offset, allowing the company to deliver an EPS result well above expectations despite the agricultural headwind.

By maintaining its full-year net income forecast of $4.5 billion to $5 billion, Deere's management signaled confidence that the current segment mix can sustain profitability through the remainder of fiscal 2026, even as the farm equipment outlook remains under pressure.

Wall Street View

Analyst sentiment heading into the print was broadly constructive. As of May 1, 2026, the consensus stood at 6 Strong Buy, 15 Buy, and 13 Hold ratings, with no Sell or Strong Sell recommendations — a distribution essentially unchanged from the prior month. The hold count increased by one between the April and May consensus readings, suggesting a small pocket of caution even amid the majority bullish stance. Against a backdrop of trailing revenue growth of -11.1% and earnings growth of -8.5% (TTM — may not reflect the latest quarter), the Q2 beat may give analysts grounds to revisit their models.

Investor Takeaway

Deere delivered a clear EPS beat and defended its full-year profit guidance, demonstrating that diversification into construction equipment is providing meaningful support while agricultural demand recovers. The maintained $4.5 billion to $5 billion net income outlook gives investors a concrete floor to assess, even as farm-sector headwinds persist. With 21 Buy-or-better ratings against 13 Holds and zero Sells, the analyst community remains predominantly positive on the company's ability to navigate the current environment.