Core Insights - Deere & Co. shares have surged over 40% since the beginning of the year, reaching a new high after reporting earnings that exceeded analysts' expectations [1][1][1] Financial Performance - Deere reported earnings per share of $2.42 and revenue of $9.61 billion, reflecting a 13% year-over-year increase [1][1][1] - The company expects net income for the full year to be between $4.5 billion and $5 billion, an increase from the previous range of $4 billion to $4.75 billion [1][1][1] Market Drivers - The positive results were attributed to increased infrastructure spending and investments in AI data centers [1][1][1] - CEO John May noted a recovery in demand within the construction and small agriculture segments, despite ongoing challenges in the global large agriculture industry [1][1][1] Future Outlook - Deere anticipates that 2023 could mark the bottom of the current cycle, with expectations for stronger sales growth in 2027 and beyond [1][1][1] - Sales from the Production & Precision Agriculture segment are projected to decline by 5% to 10%, while small agriculture and construction sales are expected to rise by approximately 15% [1][1][1]

Management believes fiscal 2026 marks the bottom of the current cycle, citing stabilization in North American large ag and robust growth in construction markets. Performance beat was primarily driven by higher-than-planned shipment volumes and operational efficiencies that offset significant incremental tariff expenses of approximately $1.2 billion. Strategic underproduction in fiscal 2025 successfully cleared the trade ladder, with late-model used tractor inventory declining over 40% from its 2025 pe ...

Deere's stock jumps toward another record. The construction business is booming again. - MarketWatch## Earnings Results# Deere's stock jumps toward another record. The construction business is booming again.## The stock is headed toward its eighth record this year, as Deere's estimate for 2026 sales growth looks set to outpace the industryPublished: Feb. 19, 2026 at 8:55 a.m. ETShareResize---Listen(3 min)Deere's stock surges further into record territory after a big earnings beat and a full-year outlook for ...

Core Insights - Deere reported a decline in first-quarter profit, primarily affected by tariffs and reduced demand for tractors [1] Company Performance - The company's profit for the first quarter was lower compared to previous periods, indicating challenges in maintaining profitability [1] - Tariffs imposed on imports have negatively impacted the company's financial performance [1] - There is a noticeable weakness in tractor demand, which has further contributed to the decline in profits [1]

Q4 2025 FINANCIAL RESULTS February 17, 2026 SAFE HARBOR STATEMENT AND DISCLOSURES All statements other than statements of historical fact contained in this presentation including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and ...

Core Insights - The India-US interim trade deal presents a significant opportunity for Escorts Kubota to explore exporting tractors to the US market [1][2] - Kubota Corporation aims to leverage India as a growth engine and a global hub for R&D, procurement, and production under its mid-term business plan for 2030 [1][5] Company Insights - Escorts Kubota is currently not exporting to the US but sees potential due to the new tariff situation, which may allow for competitive pricing compared to Japanese exports [2][3] - The company is considering manufacturing tractors in India to enhance export opportunities, which would benefit the parent company [5] Industry Insights - The tractor industry in India is expected to experience significant growth, with a projected increase of 30-35% in the March quarter following a 23% growth in the previous quarter due to GST rate reductions [6][7] - In the quarter ended December 2025, Escorts Kubota reported tractor volumes of 36,955 units, reflecting a 13.5% increase from the same quarter in the previous fiscal year [7]

Core Insights - Kubota Corporation aims to transform India into its growth engine as part of its mid-term business plan for 2030, focusing on business and projects from India as a key strategy aspect [1][5] - The India-US interim trade deal presents an opportunity for Escorts Kubota to explore exporting tractors to the US market, which is currently not being tapped [1][2] - The company is currently exporting from Japan, facing a 15% tariff, while the tariff for India stands at 18%, indicating a potential for competitive advantage if production shifts to India [2] Group 1: Business Strategy - Kubota plans to leverage India as a global hub for R&D, procurement, and production, aiming to enhance cost competitiveness and strengthen its supply chain [5] - The company sees the possibility of manufacturing tractors in India for export, which would be beneficial for the parent company [5] Group 2: Market Outlook - The tractor industry in India is expected to grow significantly, with a 23% increase recorded in the third quarter following a GST rate reduction [6] - Projections indicate that the industry could grow by approximately 30-35% in the March quarter, with momentum expected to continue through July-August before a high base effect impacts growth [7] - In the quarter ending December 2025, Escorts Kubota reported tractor volumes of 36,955 units, reflecting a 13.5% increase from 32,556 units in the same quarter of the previous fiscal year [7]

Group 1: India-US Trade Deal Impact - The India-US interim trade deal presents an opportunity for Escorts Kubota to explore exporting tractors to the US market [1][2] - Currently, the company is not exporting to the US, but the new tariff situation may facilitate market entry [2] - The parent company, Kubota Corporation, is currently exporting from Japan, facing a 15% tariff, which is comparable to India's 18% tariff [3] Group 2: Kubota's Strategic Plans - Kubota Corporation aims to make India a growth engine under its mid-term business plan for 2030, focusing on R&D, procurement, and production [4] - The strategy includes leveraging India to enhance cost competitiveness and strengthen the supply chain [4] Group 3: EU Trade Relations and Domestic Market Outlook - The tariff on tractors for the India-EU Free Trade Agreement (FTA) is already zero, and no major impact on the tractor business is expected [5] - The tractor industry in India is projected to grow significantly, with a 23% increase in the third quarter following GST rate reductions [5] - For the March quarter, industry growth is anticipated to be around 30-35%, with momentum expected to continue into mid-year [6] - In the quarter ending December 2025, Escorts Kubota reported tractor volumes of 36,955 units, a 13.5% increase from the previous year [6]

Core Insights - Mahindra & Mahindra Limited reported a 33% increase in standalone profit after tax to ₹3,931 crore for Q3 FY26, compared to ₹2,964 crore in the same period last year [1] - Standalone revenue from operations grew 26% year-on-year to ₹38,942 crore in Q3, up from ₹30,964 crore [2] - The company achieved a consolidated PAT of ₹4,675 crore, up 54% excluding the impact of new labour code regulations, on revenue of ₹52,100 crore [5] Financial Performance - The automotive division generated revenue of ₹28,361 crore with a PBIT of ₹2,684 crore, resulting in a 9.5% margin [3] - The farm equipment segment reported revenue of ₹10,200 crore, PBIT of ₹2,061 crore, and a margin of 20.2% [3] - For the nine months ended December 2025, standalone PAT reached ₹11,902 crore on revenue of ₹1,08,164 crore [2] Market Performance - The company sold 302,238 vehicles during the quarter, a 23% increase from the previous year [3] - Tractor sales stood at 149,567 units, also up 23% year-on-year [3] - The company gained a 90 basis points year-on-year increase in SUV revenue share and a 10 basis points increase in LCV market share below 3.5 tonnes [4] Exceptional Charges - The results included an exceptional charge of ₹98.19 crore related to new labour code regulations notified by the Indian government in November 2025 [5]

Core Viewpoint - The high-quality development of Kaifeng's manufacturing industry, particularly in the automotive sector, is driven by an open approach that integrates logistics, service, and industrial chains, enabling the city to connect with global markets effectively [1][5]. Group 1: Automotive Industry Development - Kaifeng has established a significant automotive manufacturing and parts industry, characterized by a "one belt leads, three zones support" development pattern, with a focus on both new energy and fuel vehicles [2]. - By 2025, Kaifeng's automotive export value is projected to reach 11.9 billion, maintaining its position as the second-largest in the province [3]. Group 2: Integration and Infrastructure - The integration of logistics, service, and industrial chains has allowed Kaifeng to overcome geographical and conceptual constraints, facilitating a transition from local focus to global competition [5]. - The city is developing a modern multi-modal transport hub that combines air, land, rail, sea, and digital logistics, enhancing its logistical capabilities [5]. Group 3: Policy and Environment - Kaifeng is transforming its government role from a manager to a partner, promoting a "service officer" mechanism to enhance the business environment and accelerate processes for enterprises [5][6]. - Innovations in customs procedures, such as "one ticket multiple vehicles" and 24/7 appointment customs clearance, have significantly reduced waiting times and transportation costs for exporters [6].