Deere & Company, Iowa’s largest manufacturing employer, reported its first-quarter income declined, but the company expressed optimism for the year ahead.
Deere reported net income of $656 million in the first quarter, compared with $869 million in the first quarter last year. Worldwide net sales and revenues increased 13% compared with the same quarter last year.
Deere CEO John May said in a statement that the global large agriculture industry continues to face challenges, but the company is encouraged by the ongoing recovery in demand for construction and small agriculture.
May said the positive developments reinforce the company’s belief that 2026 represents the bottom of the current cycle and provides a strong foundation for accelerated growth going forward.
