Tariff Refunds Boost Deere's Bottom Line -- WSJ
Dow Jones2026/08/20 12:25By Bob Tita
Deere shares are up about 3% in premarket trading after the machinery maker's quarterly profit topped expectations despite continued weakness in its large farm equipment business.
The company got back $110 million in tariff refunds during the quarter that ended Aug. 2. Analysts estimated they contributed about 30 cents to the company's $5.10 earnings per share. Wall Street had expected $4.69 a share, according to FactSet.
Sales of large farm tractors, crop harvesters and other farm production equipment slipped 6% from a year earlier. Operating profit from the large agricultural equipment business fell by 9%. Sales of Deere's construction and forestry equipment rose by 18%, and profit increased by 84% from a year earlier.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
August 20, 2026 08:25 ET (12:25 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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