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CLAIM #20318 · DE (DE) · 2025Q4 earnings call · Nov 26, 2025 · due Oct 31, 2026

But you see margin improved quite a bit as you get into the second quarter and we'll stay at those higher margin levels through the balance of the year.

Josh Jepsen · CFO

PENDING
graded after results covering Oct 31, 2026 are reported

How to check this claim

Look at: Large Ag segment operating margin, quarterly (Q2 vs Q3 and Q4 fiscal 2026)

It came true if: Q3 and Q4 fiscal 2026 Large Ag operating margin each within ~2 percentage points of (or above) Q2 fiscal 2026 Large Ag operating margin, i.e. no material step-down after Q2

Where: Company segment disclosures (10-Q/10-K Large Ag operating margin, quarterly earnings releases and call commentary)

In context

on the pricing? Obviously, pricing was up. I know it was an easy comp in Brazil. But just the 1.5% for the full year, just how to think about that cadence, just so to think how we get over the hump on kind of price cost later in the year if we don't have any growth in any quarter for large ag? Thank you. Josh Jepsen: Yes. Thanks, David, for the question. As Deanna talked earlier, seasonality will be a little different for large ag next year given our leaner start in Q1. We will see that typical ramp-up in the second quarter. It actually can have a fourth quarter. That's going to be particularly strong as well. Just given some of the timing of the shipments. To your question, we would expect to be down year over year in all those quarters, just given the level of decline that we're seeing. But you see margin improved quite a bit as you get into the second quarter and we'll stay at those higher margin levels through the balance of the year. It's really an impact on Q1 given the lean production that's driving that. David, this is Justin. The other thing I'd add is, we would expect to post 1Q to kind of return to more normal seasonality. Highest net sales, highest margin in the second quarter. So a more traditional seasonality as we go from there. And then if you just step back and look at 2Q through 4Q, those margins, we would expect based on the guide to be Kits into The US, for 26. And any expectations on acres coverage and overall as we look back on fiscal 2025, any update on progress on the subscription build-out that you can share? Josh Jepsen: Yeah. Thanks, Jerry. Happy Thanksgiving to you as well. I mean, maybe a couple of points there. First, just as we look at take rates, of Sea and Spray on our 2026 early order prog

Verify independently

SEC filings for DE · Claim quote is verbatim from the 2025Q4 earnings call.