Core Insights - Deere & Company reported a 25% year-on-year decline in net income to $656 million, or $2.42 per share, despite a 13% increase in total revenues to $9.61 billion [1][2] - The company raised its full-year net income guidance to a range of $4.5 billion to $5 billion, indicating optimism about future growth [3] Financial Performance - The Production & Precision Agriculture division experienced a significant operating profit decline of 59% to $139 million, with operating margin decreasing from 11% to 4.4% [2] - In contrast, the Construction & Forestry division saw operating profit more than double to $137 million, while the Small Agriculture & Turf division reported a 58% increase in operating profit to $196 million, both benefiting from higher shipment volumes [2] Future Outlook - The CEO of Deere & Company expressed belief that 2026 will mark the bottom of the current agricultural cycle, citing recovering demand in construction and small agriculture as a basis for future growth [3]