Deere Gets Rolling as AI Buildout Fuels Construction Sales Boom – The Daily Upside

Deere’s industry outlook forecasts large agriculture equipment volumes may fall 20% this year, while construction equipment demand grows.
Sean Craig
sean.craig@thedailyupside.com
John Deere may be the world’s largest manufacturer of agricultural equipment, but another business line is the real reason it’s plowing ahead. 
The company reported its fiscal third-quarter earnings Thursday, with revenue climbing 6.2% year over year to $11 billion, and income rising 7% to $1.4 billion. Both figures came in ahead of Wall Street forecasts. The results showed Deere crushing a new field, as its construction business proved a beneficiary of the AI infrastructure boom. Shares in the company rose 6.94%.
Goldman Sachs expects $1 trillion in AI spending this year, $800 billion of that by US hyperscalers. To make it happen, the world is gonna need a lot of dump trucks, backhoes, bulldozers and excavators, of which Deere has plenty.
Its earnings are a testament to how the company is already cashing in. Deere’s construction and forestry sales rose 18% to $3.6 billion. Investor Relations Director Chris Seibert said on an analyst call that “customer backlogs now extend well into fiscal year 2027.” The AI boom could not have come at a more welcome time, as it offsets a cyclical downturn in Deere’s biggest and most famous business line:
Time for a Reset: Deere’s full-year industry outlook forecasts large agriculture equipment volumes will fall 15% to 20% this year in the US and Canada, while construction equipment volumes will rise 5% to 10%. Deere CEO John May said the company thinks 2026 will be the end of the current downcycle in agriculture equipment, saying the manufacturer is “well positioned for long-term value creation.”

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