Consolidated revenues for the second quarter ended June 30, 2026, were $4.80 billion, and Net Sales of Industrial Activities were $4.14 billion, both up compared to Q2 2025.

Net cash provided by operating activities was $145 million, and Free cash flow of Industrial Activities was $150 million in Q2 2026.

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Marc McConnell, the Company’s President, CEO, and Chairman, reports, “We are pleased to report that the marked improvement we saw at the outset of our fiscal year continued into the second quarter, resulting in improving revenue and operating results. In our Agricultural Products segment, we have experienced demand growth in livestock-oriented products that have well outpaced the reduced demand in our sugar beet products. We view this as an overall positive result given the persistent challenges in the entirety of the farm equipment marketplace.

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Operating expenses dropped to $92.7M. Net loss was $6.0M ($0.26/share), compared to $4.3M ($0.19/share) last year. CEO Bryan Knutson emphasized inventory optimization and expects to exceed the $100M reduction target by year-end. Parts and service continue to provide stability amid a challenging equipment cycle.

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Agricultural Products, though impacted by lower row crop prices, saw strong demand for grinder mixers driven by record-high livestock prices. Streamlined staffing efforts in fiscal 2024 continue to reduce overhead and prepare the company for cyclical recovery.

Despite declines in top-line revenue, Art’s Way is positioning for future growth through targeted inventory builds and program releases to improve liquidity.

As markets reset, Art’s Way remains optimistic about improved conditions over the next 12–18 months.

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Worldwide net sales and revenues decreased 16%, to $12.763 billion, for the second quarter of 2025 and decreased 22 percent, to $21.272 billion, for six months. Net sales were $11.171 billion for the quarter and $17.980 billion for six months, compared with $13.610 billion and $24.097 billion last year, respectively.

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Worldwide net sales and revenues decreased 16 percent, to $12.763 billion, for the second quarter of 2025 and decreased 22 percent, to $21.272 billion, for six months. Net sales were $11.171 billion for the quarter and $17.980 billion for six months, compared with $13.610 billion and $24.097 billion last year, respectively.

“As we navigate the current environment, our customers remain our top priority,” said John May, chairman and CEO of John Deere. “I’m incredibly proud of our team’s execution this quarter, delivering exceptional performance despite challenging market dynamics. Their dedication and hard work have been instrumental in ensuring our customers continue to receive the high-quality service and products they expect from John Deere.”

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For the second quarter of fiscal 2025, revenue was $633.7 million compared to $642.6 million in the second quarter of last year. æÃæü¤ÇéÎåÔÂÌì revenue was $465.2 million for the second quarter of fiscal 2025, compared to $480.1 million in the second quarter last year. Parts revenue was $109.8 million for the second quarter of fiscal 2025, compared to $108.5 million in the second quarter last year. Revenue generated from service was $47.3 million for the second quarter of fiscal 2025, compared to $42.5 million in the second quarter last year. Revenue from rental and other was $11.4 million for the second quarter of fiscal 2025, compared to $11.5 million in the second quarter last year.

Gross profit for the second quarter of fiscal 2025 was $112.4 million, compared to $133.4 million in the second quarter last year. The Company’s gross profit margin was 17.7% in the second quarter of fiscal 2025, compared to 20.8% in the second quarter last year. The year-over-year decrease in gross profit margin was primarily due to lower equipment margins which are being driven by higher levels of inventory and softening demand.

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Second quarter 2024 net sales were $416.3 million compared to $440.7 million in the second quarter of 2023. Gross margin was $108.2 million, or 26.0% of net sales, compared to $118.1 million, or 26.8% of net sales in the comparison period of 2023. Strong Industrial æÃæü¤ÇéÎåÔÂÌì Division results partially offset the Vegetation Management headwinds.

Net income was $28.3 million, or $2.35 per diluted share, compared to $36.4 million, or $3.03 per diluted share, in the second quarter of 2023. The Company’s backlog at the end of the second quarter remained healthy at $768.9 million. While Vegetation Management backlog normalized to pre-Covid levels, Industrial æÃæü¤ÇéÎåÔÂÌì backlog continues to grow and is 16% higher versus the end of the second quarter 2023.

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Net sales for the first six months of 2024 were approximately $6.2 billion, which is a decrease of 13.7% compared to 2023. For the first six months of 2024, reported net loss was $(2.67) per share, which includes the estimated loss on the Grain & Protein business held for sale, and adjusted net income was $4.85 per share.

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• Second quarter consolidated revenue declined 16% on lower industry demand
• Second quarter diluted EPS at $0.34; adjusted diluted EPS at $0.38 ($0.52 in the second quarter of 2023)
• Results reflect continued execution of cost savings initiatives mitigating the impact of market headwinds
• Returned $1.2 billion to shareholders through dividends and share repurchases in the first half of 2024
• Full-year guidance updated to reflect weaker market conditions

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