Deere & Company delivered a strong Q1 double beat, raising net income guidance to $4.5B–$5B and driving a 40% YTD stock appreciation. Construction & Forestry and Small Ag & Turf segments outperformed, benefiting from robust infrastructure demand and strong price realization, while Production & Precision Ag remains challenged. DE's transition to high-margin recurring software revenue, targeting 10% CAGR by 2030, underpins a long-term technology-driven growth thesis despite a current P/E of 35.78.









