John May on fiscal 2026 net income guidance
From Deere & Co ($DE) Q4 2025 Earnings Call · · Castify Earnings Call
“For fiscal year 26, our full year net income forecast is expected to be in the range of 4 and 4.75 billion. Included in this estimate is projected pre-tax direct tariff expense of approximately 1.2 billion with additional inflationary pressures also contemplated from the direct and indirect impacts of tariffs.”
On , John May, Chairman, President & Chief Executive Officer at Deere & Company, spoke about fiscal 2026 net income guidance during Deere & Co ($DE) Q4 2025 Earnings Call on Castify Earnings Call.
About John May
John May, Chairman, President and CEO of Deere & Company, discussed the company’s performance and outlook during recent earnings calls. On the Q2 2026 call, May noted that the company returned $635 million to shareholders through share repurchases and dividends. He stated that Deere is not surcharging customers on tariffs, instead focusing on reducing tariff exposure through cost actions such as reshoring and ensuring USMCA compliance. May also said that data center construction is expected to top $100 billion in 2026, which he described as positive for Deere’s customers in large-scale site preparation and utility contracting. On the Q4 2025 call, May said that 2025 was a year of significant challenges and uncertainty, but that the company demonstrated resilience and delivered over $5 billion in net income with equipment operations margins of 12.6%. He noted that the company began taking orders for its autonomous rowcrop tillage solution for spring delivery. May also projected fiscal year 2026 net income in the range of $4 to $4.75 billion, including an estimated $1.2 billion in pre-tax direct tariff expenses. He expressed pride in the team’s efforts to assess and mitigate tariff exposures and manage supply chain disruptions.