Equipment Roundup

In this equipment roundup, DTN/Progressive Farmer looks at John Deere reporting a second-quarter net income of $1.773 billion; April tractor sales falling, while combine sales rose slightly; Kioti introducing its new CK40 Series compact tractor; CNH earning Red Dot awards; and Kubota Tractor Corporation announcing a multi-year partnership with NASCAR.

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JOHN DEERE REPORTS $1.773B 2ND QUARTER EARNINGS

John Deere released its second quarter financials on Thursday, showing net income of $1.773 billion for the period ending May 3. The number falls below Deere's performance for the same quarter last year when net income was $1.804 billion.

For the full year 2026, Deere forecasts net income of $4.5 billion to $5 billion. Those numbers are unchanged from Deere's first-quarter report, but up a bit from Deere's initial forecast for 2026. Back in November 2025, Deere forecast 2026 net income of $4.0 billion to $4.75 billion.

For all of Deere's fiscal year 2025, net income was $5.027 billion. That was down from net income of $7.1 billion for fiscal 2024.

When Deere reported its 2025 financial results last year, company leaders commented that they expected this year, 2026, would mark the bottom of this large down ag cycle.

John May, chairman and CEO of John Deere, added some perspective in the report released on Thursday.

"By continuing to invest in innovation through the cycle and leveraging the strength of our dealer network, we are well positioned to deliver increasing value for our customers and shareholders as market conditions improve," May said in the release. He added: "Our performance in the current market environment demonstrates the strength of our diversified portfolio. This is particularly reflected in the strong outcomes achieved by our Small Ag and Construction & Forestry divisions during this year. As we address ongoing challenges within global agricultural markets, our comprehensive portfolio continues to drive market share expansion and support our targets for sustained growth."

Putting numbers to May's remarks explains Deere's posture. Second quarter's net sales in Deere's Small Agriculture and Turf division are up 16% over the second quarter of 2025. Construction and Forestry net sales are up 29% in the second quarter just ended, compared to the same quarter in 2025.

Second quarter of 2026 results from Deere's "large ag" Production and Precision Agriculture division were not as bright. Second-quarter net sales are down 14% from the same quarter in 2025. Deere does not expect much improvement by the end of the year. It is forecasting net 2026 sales down 5%-10% in its Production and Precision Ag Division.

That is compared to Small Ag and Turf, which is forecast to be up about 15% for the year, and Construction and Forestry, which is projected to be up about 20%.

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APRIL TRACTOR SALES DOWN FROM YEAR AGO

A look at the April 2026 Tractor and Combine Sales report is evidence of why John Deere and the rest of the ag machinery industry are feeling pain.

Compiled by the Association of Equipment Manufacturers (AEM), the April report shows large, four-wheel-drive tractor sales were down 42.6% in April 2026 compared to April 2025. The actual numbers show 167 four-wheel-drive tractors sold in April compared to 291 sold a year ago.

For 2026 through April, four-wheel-drive sales are down 24.7%

For all tractors -- from sub-40 horsepower to the largest -- sales were down 11.3% in April 2026 compared to April 2025 and down 9.4% over the first four months of 2026 compared to the same period in 2025.

Sales of combines, however, showed some modest positive signs. April 2026 combine sales versus April 2025 were up 3.4% (428 units sold versus 414 in April 2025) and down 0.6% for the year, compared to same period in 2025. But the difference is slight: six more units sold in April 2025 compared to April 2026.

Market watchers believe that, unlike with tractors, farmers invest in combines seeking improved technology packages and improved harvesting efficiencies. In other words, it is an investment in an essential piece of equipment that provenly adds to a farm's line.

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KIOTI TRACTOR INTROS CK40 COMPACT

Kioti, a division of Daedong-USA Inc., is introducing its new CK40 Series compact tractor. Built on the capabilities of the CK20 Series, the CK40 offers heavy-duty lift capacity, improved implement control, and enhanced stability.

All CK40 Series models feature a 10.25-inch color LCD instrument panel, and each is powered by a Kioti three-cylinder Stage V diesel engine.

All models come telematics ready and are compatible with KIOTI Connect.

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CNH EARNS RED DOT AWARDS

CNH announced that three models from its Case IH, New Holland and Steyr brands have won 2026 Red Dot Design Awards. Red Dot is a design award that honors products that stand out for design quality, innovation and usability.

Here are the Red Dot winners (with explanations):

-- The Case IH Puma series combines styling with an enhanced cab environment designed to support long working days. Improvements include easier access, revised interior styling, increased storage and upgraded in-cab displays. Externally, a redesigned hood and lighting package improve forward visibility, while new LED fender taillights integrate safety with a distinctive visual signature.

-- The New Holland T7 Standard Wheelbase stands out for its compact proportions. The tractor debuts New Holland's Dynamic Blue color, which will be progressively introduced across its product portfolio. Styling details such as the new hood shape, integrated cab access, LED lighting and refined rear design blend aesthetics with practical benefit.

-- The Steyr Cervus CVT is the brand's first 400-plus-horsepower tractor. It features Steyr's new styling within a model that blends a high-power output with compact dimensions. It incorporates practical features such as easy service access and advanced lighting, including high intensity hood and taillights, complete the modern, unmistakable design.

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KUBOTA INKS NASCAR PARTNERSHIP

Kubota Tractor Corporation has announced a multiyear partnership with NASCAR, beginning with this 2026 NASCAR season, establishing Kubota as an official partner of NASCAR.

"Kubota equipment is built for customers who demand quality, durability and high productivity. NASCAR is built on engineering excellence, speed, and sustained high performance under pressure. Together, we represent two organizations that are part of the fabric of American life," Alex Woods, president, Kubota Tractor Corporation, said in a Kubota release.

As part of the agreement, Kubota will sponsor NASCAR San Diego Weekend presented by Anduril at Naval Base Coronado in June. Kubota's presence highlights the company's ongoing commitment to supporting U.S. military veterans. As part of the weekend's activities, Kubota will host a special ceremony to recognize the five recipients of its 2026 Geared to Give program. During that ceremony, the farmer veterans will be presented with the keys to new Kubota equipment.

Dan Miller can be reached at dan.miller@dtn.com

Follow him on social platform X @DMillerPF

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