AGCO REPORTS FIRST-QUARTER RESULTS

Published: 2026-05-07 11:32:26 ET AGCO

Published on 05/07/2026 at 11:32 am EDT

DULUTH, Ga-- AGCO (NYSE: AGCO) reported net sales of $2.3 billion for the first quarter ended March 31, 2026, an increase of 14.3% compared to the first quarter of 2025. Reported net income was $0.76 per share for the quarter and adjusted net income(1) was $0.94 per share. These results compare to reported net income of $0.14 per share and adjusted net income(1) of $0.41 per share for the first quarter of 2025. Excluding favorable foreign currency translation of 9.6%, net sales in the quarter increased 4.7% compared to the first quarter of 2025.

* Net sales of $2.3 billion, up 14.3% year-over-year

* Reported earnings per share of $0.76 and adjusted earnings per share(1) of $0.94

* Full-year adjusted earnings per share outlook increased to approximately $6.00

* Regular quarterly dividend increased to $0.30 per share

* $350 million in share repurchases to commence in the second quarter of 2026

AGCO Red and Black Logo; Your Agriculture Company (PRNewsfoto/AGCO Corporation)

'AGCO delivered healthy first-quarter sales and margin results, reflecting disciplined execution in a demanding agricultural market and dynamic global environment,' said Eric Hansotia, AGCO's Chairman, President and CEO. 'We outpaced the market, particularly in high-horsepower equipment and precision agriculture, underscoring the strength of our differentiated portfolio and Farmer-First approach. We stayed focused on supporting customers while maintaining operational flexibility with continued production alignment delivering further progress on dealer and company inventories. We achieved near-record first-quarter margins in Europe and continued to grow market share in high-horsepower offerings in North America.'

Hansotia continued, 'The first quarter results demonstrate a resilient earnings profile, a solid margin structure and positive momentum from our multi-year structural transformation that reinforce our confidence in our strategy which is delivering increased value to our shareholders underscored by our increased quarterly dividend and next phase of share repurchases. As we progress through 2026, we remain firmly focused on executing our Farmer-First strategy with a strong innovation pipeline and continued cost discipline to support healthy cash generation, positioning AGCO to navigate ongoing subdued demand and deliver improved performance as market fundamentals recover while keeping farmers at the center of everything we do.'

First Quarter Highlights

Reported regional sales results(2): Europe/Middle East ('EME') +20.3%, North America +10.0%, Latin America ('LATAM') (17.3)%, Asia/Pacific/Africa ('APA') +31.2%

Constant currency regional sales results(1)(2)(3): EME +9.0%, North America +9.0%, LATAM (30.3)%, APA +20.9%

Regional operating margin performance: EME 16.2%, North America (12.5)%, LATAM (19.3)%, APA 3.2%

The Company plans to initiate $350 million in share repurchases in the second quarter of 2026

The Company's Board of Directors approved an increase in the Company's regular quarterly dividend to $0.30 per share, from $0.29 per share

Today the Company is also announcing the strategic evolution of its long-standing AGCO Finance U.S. and Canada joint ventures to better align with evolving market dynamics and increasing regulatory and compliance requirements. The new framework will optimize regulatory capital efficiency and capital deployment while strengthening AGCO's strategic partnership with Rabobank and its commitment to providing competitive financing solutions to farmers and dealers. On April 30, 2026, the Company executed two purchase agreements with wholly owned subsidiaries of Rabobank to sell its 49% equity interests in the joint ventures in the U.S. and Canada, AGCO Finance LLC and AGCO Finance Canada, Ltd., respectively, for approximately $190.0 million. The proceeds will be utilized towards share repurchases. In connection with the purchase agreements, the Company entered into Financing Framework Agreements with wholly owned subsidiaries of Rabobank that establish the commercial terms governing the future provision of financing solutions. The Company will continue to evaluate similar agreements in respect of other joint ventures with wholly owned subsidiaries of Rabobank in the future.

Market Update

https://investors.agcocorp.com/news-releases/news-release-details/agco-reports-first-quarter-results-19