AGCO’s third-quarter sales fell 8.6% as weakness across Europe/Middle East and Latin America outweighed gains in North America and Asia/Pacific/Africa, while lower farm income and uncertainty weighed on farmer sentiment.
AGCO reported net sales of $2,262.5 million for the three months ended Sept. 30, according to its third-quarter results release. Sales rose 34.8% in North America and 13.8% in Asia/Pacific/Africa, but fell 19.1% in Europe/Middle East and 15.4% in Latin America. Excluding currency translation, the respective changes were gains of 35.1% and 9.2%, followed by declines of 18.1% and 19.1%. The company said weaker demand and lower sales and production volumes weighed on results in Europe/Middle East and Latin America.
Operating income decreased to $116.1 million from $151.6 million a year earlier, while the adjusted operating margin narrowed to 6.1% from 7.5%.
Net income attributable to AGCO was $51.7 million, or $0.75 per diluted share, compared with $305.7 million, or $4.09 per share, in the prior-year quarter. Adjusted earnings per share declined to $1.05 from $1.35. The earlier reported earnings included a $2.93-per-share gain from selling AGCO’s ownership interest in Tractors and Farm Equipment Limited.
AGCO linked farmer caution to lower farm income, higher input costs and uncertainty over commodity markets and trade. Eric Hansotia, AGCO’s chairman, president and CEO, described global industry demand as the weakest in more than a decade.
For the first nine months of 2026, sales totaled $7,215.1 million, up 0.7% from a year earlier as reported but down 2.7% excluding currency translation.
AGCO forecast 2026 net sales of $9.8 billion to $10 billion, an adjusted operating margin of about 7% and adjusted earnings per share of approximately $5.50. The company said its projections reflect tariff policies as of Oct. 29 and its mitigation measures.
