Jun 2026 (Q2 FY26) — Jul 30, 2026
AGCO Q2 FY26 — Strategic Execution Amidst Moderating Demand
Read the full callAGCO (AGCO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
AGCO earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,610 | −1.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 5.4 | −0.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 77.2 | −75.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
16 of 28 judged targets kept · 37 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EPS | $1.35 to $1.40 | Mar 2026 | This is reflected in our adjusted earnings per share of $1.43, an increase of $0.08 over the prior year. | Achieved |
| Net sales | $2.7 billion to $2.8 billion | Mar 2026 | Net sales for the quarter were approximately $2.6 billion, 1% lower year-over-year. | Missed |
| Adjusted EPS | $5.50 to $6 | Dec 2025 | Adjusted earnings per share are now expected to be in the range of $5.50 to $5.75 per share. | Revised Down |
12 of AGCO CORP /DE's 65 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 62 more targets are in the full ledger.
Claimed
- Adjusted EPS increased by $0.08 year-over-year to $1.43.
- North America net sales increased approximately 20% excluding currency impacts, driven by stronger unit volumes and market share gains.
- Dealer inventory management remained a positive contributor, with lower levels in all three major regions.
- PTX sales are expected to be flat to modestly up for the full year, despite overall industry weakness.
- Operational efficiency initiatives are expected to deliver $60 million to $70 million of benefits in 2026.
Qualified
- Net sales for the quarter were approximately $2.6 billion, 1% lower year-over-year.
- Operating income decreased 14% year-over-year to $140.7 million, with adjusted operating margin decreasing 170 basis points to 6.6%.
- Latin America net sales were 25% lower compared to the prior year on a constant currency basis, with operating income down approximately $49 million.
- Full-year net tariff impact is expected to be $95 million, an increase of $50 million compared to last year.
- Free cash flow use was approximately $347 million year-to-date, compared to positive free cash flow of $63 million in H1 2025.
Price
$106.2 −0.54% · −$0.58
Performance −0.9% 1Y
1Y: $107.15 on 14 Oct 2025 → $106.2. High $140.49 (13 Feb 2026), low $98.45 (18 Aug 2026).
- Previous close
- $106.78
- 52-week range
- $98.45 – $140.49
- One year
- −0.76%
Overview
- Symbol
- AGCO
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
16 of 28 judged targets kept · 37 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EPS | $1.35 to $1.40 | Mar 2026 | This is reflected in our adjusted earnings per share of $1.43, an increase of $0.08 over the prior year. | Achieved |
| Net sales | $2.7 billion to $2.8 billion | Mar 2026 | Net sales for the quarter were approximately $2.6 billion, 1% lower year-over-year. | Missed |
| Adjusted EPS | $5.50 to $6 | Dec 2025 | Adjusted earnings per share are now expected to be in the range of $5.50 to $5.75 per share. | Revised Down |
Claimed
- Adjusted EPS increased by $0.08 year-over-year to $1.43.
- North America net sales increased approximately 20% excluding currency impacts, driven by stronger unit volumes and market share gains.
- Dealer inventory management remained a positive contributor, with lower levels in all three major regions.
- PTX sales are expected to be flat to modestly up for the full year, despite overall industry weakness.
- Operational efficiency initiatives are expected to deliver $60 million to $70 million of benefits in 2026.
Qualified
- Net sales for the quarter were approximately $2.6 billion, 1% lower year-over-year.
- Operating income decreased 14% year-over-year to $140.7 million, with adjusted operating margin decreasing 170 basis points to 6.6%.
- Latin America net sales were 25% lower compared to the prior year on a constant currency basis, with operating income down approximately $49 million.
- Full-year net tariff impact is expected to be $95 million, an increase of $50 million compared to last year.
- Free cash flow use was approximately $347 million year-to-date, compared to positive free cash flow of $63 million in H1 2025.
The full ledger
Open AGCO CORP /DE’s full ledger
A free account opens 5 company ledgers a month. All 65 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
AGCO Q1 FY26 — Record Market Share & Strong Margin Expansion
Read the full callEvery analysed call
AGCO earnings calls (AGCO)
Financials
What the filings say
Net profit, year on year: −75% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,599 | 2,887 | 2,051 | 2,635 | 2,476 | 2,920 | 2,343 | 2,610 |
| Operating profit | 115 | -269 | 49 | 164 | 152 | 231 | 81 | 141 |
| Operating margin | 4.4% | −9.3% | 2.4% | 6.2% | 6.1% | 7.9% | 3.4% | 5.4% |
| Profit before tax | 29 | -346 | -1 | 97 | 345 | 162 | 39 | 108 |
| Tax rate | 41.6% | 7.0% | −142.9% | −211.2% | 14.2% | 47.8% | 11.8% | 37.3% |
| Net profit | 30 | -256 | 11 | 315 | 306 | 96 | 55 | 77 |
| EPS ($ per share) | 0.40 | — | 0.14 | 4.22 | 4.10 | — | 0.76 | 1.08 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 4,477 | 4,444 | 4,759 | 5,182 | 5,655 | 6,360 | 5,645 | 6,047 |
| Total liabilities | 4,633 | 4,853 | 5,486 | 5,738 | 6,221 | 6,764 | 7,148 | 7,355 |
| Fixed assets | 1,373 | 1,416 | 1,509 | 1,465 | 1,591 | 1,921 | 1,819 | 1,996 |
| Total assets | 7,626 | 7,760 | 8,504 | 9,182 | 10,104 | 11,421 | 11,191 | 11,928 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 596 | 696 | 897 | 660 | 838 | 1,103 | 690 | 988 |
| Cash from investing | -205 | -272 | -242 | -288 | -497 | -546 | -1,650 | -28 |
| Cash from financing | -413 | -313 | 23 | -539 | -407 | -672 | 1,046 | -729 |
| Net cash flow | -42 | 107 | 686 | -230 | -100 | -194 | 17 | 249 |
| Capital expenditure | -203 | -273 | -270 | -270 | -388 | -518 | -393 | -248 |
| Free cash flow | 393 | 423 | 627 | 390 | 450 | 585 | 297 | 740 |
AGCO revenue by segment
EME grew from 65% to 66% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| EME | — | — | 65% | 67% | 65% | 69% | 68% | 66% | -2.4% |
| North America | 28% | 19% | 19% | 16% | 15% | — | 17% | 18% | +12.0% |
| Latin America | — | — | — | — | — | — | 9% | 10% | — |
| APA | 7% | 6% | 5% | 5% | 6% | 6% | 5% | 5% | -1.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- DE 19% ↑ 8 pt
- Other Europe 16% ↑ 3 pt
- US 14% ↓ 8 pt
- FR 11% ↑ 1 pt
- Finl and and Scandinavia 8% ↑ 2 pt
- BR 6% ↓ 4 pt
- United Kingdom and Ireland 6% ↑ 1 pt
- IT 4% ↑ 2 pt
- CA 4% ↓ 1 pt
- Other South America 3% ↓ 1 pt
- Australia and New Zealand 3%
- Middle East and Algeria 2% ↓ 1 pt
- Asia 1% ↓ 1 pt
- Mexico Central America and Caribbean 1%
- Africa 1%
As AGCO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
97 filings between Nov 10, 2025 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
$100.7K
1 purchase by 1 insider
Sales
$110.10M
10 sales by 4 insiders
Compensation
not trading decisions- 42
- Award — granted as compensation
- 3
- Option exercise — converted options into shares
- 41
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Tractors & Farm Equipment Ltd | — | $108.89M | Aug 5, 2026 |
| Bennett Kelvin Eugene | — | $678.7K | Sep 4, 2026 |
| Hansotia Eric P | — | $337.9K | Sep 4, 2026 |
| Harris Ivory Marie | — | $200.5K | Sep 15, 2026 |
| De Lange Bob | $100.7K | — | Aug 14, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Harris Ivory Marie SVP Chief HR Officer | Sale | 1,600 | $200.5K |
| Sep 15, 2026 | Barbour Sondra L Director | Award | 32 | $3.9K |
| Sep 15, 2026 | De Lange Bob Director | Award | 4 | $510 |
| Sep 4, 2026 | Hansotia Eric P Chairman, President and CEO | Option exercise | 9,750 | $709.2K |
| Sep 4, 2026 | Hansotia Eric P Chairman, President and CEO | Sale | 2,604 | $337.9K |
| Sep 4, 2026 | Hansotia Eric P Chairman, President and CEO | Tax withheld | 7,146 | $927.9K |
| Sep 4, 2026 | Bennett Kelvin Eugene SVP Engineering | Sale | 1,000 | $132.9K |
| Aug 14, 2026 | De Lange Bob Director | Purchase | 1,000 | $100.7K |
| Aug 6, 2026 | Bennett Kelvin Eugene SVP Engineering | Sale | 2,000 | $204.5K |
| Aug 5, 2026 | Tractors & Farm Equipment Ltd 10% owner | Sale | 360,163 | $41.54M |
| Aug 5, 2026 | Tractors & Farm Equipment Ltd 10% owner | Sale | 132,255 | $15.25M |
| Jul 14, 2026 | Hansotia Eric P Chairman, President and CEO | Award | 236 | $25.4K |
| Jul 14, 2026 | Audia Damon J SVP, Chief Financial Officer | Award | 146 | $15.7K |
| Jul 14, 2026 | Bennett Kelvin Eugene SVP Engineering | Award | 203 | $21.8K |
| Jul 14, 2026 | Sorbe Brian James President PTx | Award | 22 | $2.4K |
| Jul 14, 2026 | Harris Ivory Marie SVP Chief HR Officer | Award | 47 | $5.1K |
| Jul 10, 2026 | Agarwal Indira VP, Chief Accounting Officer | Tax withheld | 1,734 | $198.2K |
| Jun 15, 2026 | De Lange Bob Director | Award | 4 | $508 |
| Jun 15, 2026 | Barbour Sondra L Director | Award | 33 | $3.9K |
| May 5, 2026 | Tractors & Farm Equipment Ltd 10% owner | Sale | 113,501 | $13.99M |
| May 5, 2026 | Tractors & Farm Equipment Ltd 10% owner | Sale | 309,089 | $38.10M |
| Apr 23, 2026 | arnold michael c Director | Award | 1,673 | $0 |
| Apr 23, 2026 | Porksen Niels Director | Award | 1,338 | $0 |
| Apr 23, 2026 | CLARK SUZANNE PATRICIA Director | Award | 1,673 | $0 |
| Apr 23, 2026 | Collins James C. Jr. Director | Award | 1,673 | $0 |
| Apr 23, 2026 | Golodryga Zhanna Director | Award | 1,673 | $0 |
| Apr 23, 2026 | Barbour Sondra L Director | Award | 1,673 | $0 |
| Apr 23, 2026 | Sagehorn David M. Director | Award | 1,673 | $0 |
| Apr 23, 2026 | De Lange Bob Director | Award | 1,673 | $0 |
| Apr 20, 2026 | Hansotia Eric P Chairman, President and CEO | Tax withheld | 1,604 | $184.9K |
| Mar 16, 2026 | Barbour Sondra L Director | Award | 27 | $3.2K |
| Mar 16, 2026 | De Lange Bob Director | Award | 0 | $11 |
| Feb 17, 2026 | Dehner Torsten Rudolf Willi SVP GM Fendt/Valtra | Tax withheld | 3,436 | $475.2K |
| Feb 17, 2026 | Dehner Torsten Rudolf Willi SVP GM Fendt/Valtra | Option exercise | 5,100 | $371.0K |
| Feb 17, 2026 | Bennett Kelvin Eugene SVP Engineering | Sale | 2,300 | $315.2K |
| Feb 10, 2026 | Felli Luis Fernando Sartini SVP GM Massey Ferguson | Tax withheld | 1,713 | $227.8K |
| Feb 10, 2026 | Felli Luis Fernando Sartini SVP GM Massey Ferguson | Option exercise | 2,550 | $185.5K |
| Feb 5, 2026 | Harris Ivory Marie SVP Chief HR Officer | Tax withheld | 257 | $32.0K |
| Feb 5, 2026 | Millwood Timothy SVP Chief Supply Chain Officer | Award | 733 | $0 |
| Feb 5, 2026 | Felli Luis Fernando Sartini SVP GM Massey Ferguson | Tax withheld | 271 | $33.7K |
| Feb 5, 2026 | Harris Ivory Marie SVP Chief HR Officer | Award | 576 | $0 |
| Feb 5, 2026 | Bennett Kelvin Eugene SVP Engineering | Tax withheld | 256 | $31.8K |
| Feb 5, 2026 | Bennett Kelvin Eugene SVP Engineering | Award | 576 | $0 |
| Feb 5, 2026 | Audia Damon J SVP, Chief Financial Officer | Tax withheld | 551 | $68.5K |
| Feb 5, 2026 | Felli Luis Fernando Sartini SVP GM Massey Ferguson | Award | 982 | $0 |
| Feb 5, 2026 | Millwood Timothy SVP Chief Supply Chain Officer | Tax withheld | 318 | $39.5K |
| Feb 5, 2026 | Dehner Torsten Rudolf Willi SVP GM Fendt/Valtra | Tax withheld | 300 | $37.3K |
| Feb 5, 2026 | Dehner Torsten Rudolf Willi SVP GM Fendt/Valtra | Award | 982 | $0 |
| Feb 5, 2026 | Caspari Stefan SVP Cust. Success/Bus. Effec. | Tax withheld | 201 | $25.0K |
| Feb 5, 2026 | Caspari Stefan SVP Cust. Success/Bus. Effec. | Award | 576 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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