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Oct. 30, 2026 Source: AGCO news release DULUTH, Ga. -- AGCO (NYSE: AGCO) reported net sales of $2.3 billion for the third quarter ended September 30, 2026, a decrease of 8.6% compared to the third quarter of 2025. Reported net income was $0.75 per share for the quarter and adjusted net income(1) was $1.05 per share. These results compare to reported net income of $4.09 per share and adjusted net income(1) of $1.35 per share for the third quarter of 2025. Excluding favorable foreign currency translation of 0.1%, net sales in the quarter decreased 8.7% compared to the third quarter of 2025. "AGCO delivered resilient third-quarter results in what is the weakest global industry demand environment in more than a decade," said Eric Hansotia, AGCO's Chairman, President and CEO. "While elevated input costs and uncertainty around commodity markets and the trade environment pushed industry demand below the last cyclical trough, we aligned production with demand, managed dealer inventories and maintained cost discipline. We also advanced our Farmer-First strategy by strengthening the market position of our premium brands and expanding precision agriculture solutions that help farmers automate tasks, address labor constraints and get more from their equipment." Hansotia continued, "Lower farm income and uncertainty across global agricultural markets continued to weigh on farmer sentiment, with conditions softening further in EME and Latin America. We remain focused on what we can control: helping farmers improve their economics while strengthening our cost structure. Our fuel-efficient tractors, AI-enabled targeted spraying systems and autonomous solutions are designed to lower operating costs and improve returns for farmers. These actions are helping us navigate current conditions and position AGCO for the recovery." Net sales for the first nine months of 2026 were approximately $7.2 billion, an increase of 0.7% compared to the same period in 2025. For the first nine months of 2026, reported net income was $2.59 per share and adjusted net income(1) was $3.42 per share. These results compare to reported net income of $8.45 per share and adjusted net income(1) of $3.11 per share for the same period in 2025. Excluding favorable foreign currency translation of 3.4%, net sales in the first nine months of 2026 decreased 2.7% compared to the same period in 2025. North America North American region net sales increased 35.1% during the third quarter of 2026 compared to the third quarter of 2025, excluding the impact of unfavorable currency translation. Higher unit sales across most equipment categories, particularly high-horsepower and mid-range tractors and parts, supported the increase in sales. Income from operations for the third quarter of 2026 was $13.8 million compared to a loss from operations of $42.0 million in the same period in 2025, primarily due to higher sales and production volumes and the benefit of approximately $13.0 million of certain IEEPA tariff refunds recognized during the period. Latin America Net sales in the Latin America region decreased 19.1% during the third quarter of 2026 compared to the third quarter of 2025, excluding the impact of favorable currency translation. Softer industry demand resulted in lower sales. Income from operations for the third quarter of 2026 was $13.0 million lower compared to the same period in 2025. This decrease was primarily the result of significantly lower sales and production volumes. Europe/Middle East Net sales in the Europe/Middle East region decreased 18.1% during the third quarter of 2026 compared to the third quarter of 2025, excluding the impact of unfavorable currency translation. Sales declines were primarily driven by weaker industry demand, with the most pronounced decreases in Germany, France, Italy and Spain. Income from operations in the third quarter of 2026 was $115.1 million lower compared to the same period in 2025, primarily due to significantly lower sales and production levels. Asia/Pacific/Africa Asia/Pacific/Africa region net sales increased 9.2% during the third quarter of 2026 compared to the third quarter of 2025, excluding favorable currency translation impacts. Higher sales in Australia were partially offset by lower sales across many of the Asian and African markets. Income from operations in the third quarter of 2026 was $17.2 million higher compared to the same period in 2025, primarily due to higher sales and a favorable product mix. Outlook AGCO's net sales for 2026 are expected to be from $9.8 to $10.0 billion. Adjusted operating margins are projected to be about 7.0% reflecting continued emphasis on pricing discipline, cost management and operational alignment. Production volumes are planned to align dealer inventory with market demand, while cost controls and positive pricing continue to support performance. Based on these assumptions, 2026 adjusted earnings per share is targeted at approximately $5.50. These estimates reflect tariff policies as of October 29, 2026, together with AGCO's established mitigation actions and sourcing strategies. Any changes to tariff policies or related responses could affect these projections. To read the entire report click here. Tweet |
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