DE · Earnings call · 2026Q3T · Full report
Order Backlog and Book-to-Bill
DEERE & CO · 2026-08-20 · Importance 49 · Surprise 32 · In source text
Production and Precision Ag order books are effectively full for fiscal 2026, with fourth-quarter orders closed and 8R tractor orders running as expected at four-to-five months out. North American early order programs for planters and sprayers are up mid-single digits versus the completed prior-year program, and combined orders are already higher year over year despite programs remaining open. Construction and Forestry order books are largely full, with roughly four to five months of orders on hand versus a typical two to three months. Customer backlogs extend well into fiscal 2027, supported by infrastructure, data center, pipeline, roadbuilding, independent rental, and dealer-owned rental demand.
Key facts
- Customer backlogs in Construction and Forestry now extend well into fiscal year 2027.
- Christopher said the order books for 2026 are largely full across segments.
- Deere's Production and Precision Ag order books for the year are effectively full.
- Christopher said modest underproduction this year for Production and Precision Ag and Construction and Forestry of 'a couple percentage points' for each segment.
- Deere is producing modestly below retail demand in Construction and Forestry despite increased production rates.
- Early order program results are up mid-single digits compared to the completion of last year's program.
- Construction and Forestry currently has about four to five months of orders on hand, versus a typical two to three months.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | probable | — | Customer backlogs in Construction and Forestry now extend well into fiscal year 2027. |
| revenue | positive | committed | — | Deere's Production and Precision Ag order books for the year are effectively full. |
| revenue | negative | realized | — | Christopher said modest underproduction this year for Production and Precision Ag and Construction and Forestry of 'a couple percentage… |
| revenue | negative | realized | — | Deere is producing modestly below retail demand in Construction and Forestry despite increased production rates. |
| revenue | positive | realized | — | Early order program results are up mid-single digits compared to the completion of last year's program. |