Deere & Company

CEO John May’s Smart Industrial strategy has focused the organization around production systems, dealer enablement, and software layers that improve customer economics. Execution on autonomy, guidance, and connected machine upgrades is tangible and expanding.

That said, management extended the timeline for achieving 10 percent recurring revenue beyond 2030, reflecting realistic pacing and adoption friction in a softer market. Transparency on cycle dynamics and capital allocation has been solid, though reputational and regulatory friction from right-to-repair requires continued engagement.