10-K · February 13, 2026
AGCO returned to profitability in 2025 with net income attributable of $726.5M (diluted EPS $9.75) on net sales of $10,082.0M, despite a 13.5% decline in sales versus 2024. Operating income improved to $595.7M in 2025…
Earnings analysis · 10-Q
AGCO earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
AGCO reported Q1 2026 earnings with net sales of $2.34 billion, exceeding expectations and marking a 14.3% increase compared to Q1 2025. Diluted EPS surged to $0.76, up from $0.14 a year ago. Increased sales were driven…
Read full summary
AGCO reported Q1 2026 earnings with net sales of $2.34 billion, exceeding expectations and marking a 14.3% increase compared to Q1 2025. Diluted EPS surged to $0.76, up from $0.14 a year ago. Increased sales were driven primarily by higher demand in North America and Europe, alongside some headwinds from tariffs affecting costs and profitability.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.76
- Segment
- Europe/Middle East: $1.6B; North America: $406.4M; LATAM: $211.7M; APA: $124.0M
What stood out
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Revenue Growth
Net sales reached $2.34 billion, a 14.3% increase from $2.05 billion in Q1 2025.
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EPS Significantly Higher
Diluted EPS rose to $0.76 from $0.14 year-over-year.
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Positive Segment Performance
EME segment sales increased by $270.3 million, with income from operations up $104.6 million.
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Reduced Interest Expense
Interest expense decreased to $15.2 million from $18.5 million in the prior year.
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Working Capital Improvement
Working capital decreased to $1.21 billion as of March 31, 2026, from $1.47 billion at year-end.
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Cash Flow Management
Operating cash flows used were $410.4 million, compared to $212.2 million in Q1 2025.
What to watch
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Tariff-Related Costs
Increased input costs from tariffs have negatively impacted gross margin percentages.
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Segment Loss in LATAM
LATAM segment experienced a revenue decline of $44.3 million, with income from operations decreasing by $47.4 million.
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Product Demand Cyclicality
Ongoing fluctuation in demand for agricultural equipment remains a risk amid global economic conditions.
Management's outlook
Expect moderate revenue increases in 2026 due to positive pricing and sales mix.
Earlier filings 4
10-Q · November 7, 2024
AGCO reported Q3 net sales of $2,599.3 million versus $3,455.5 million a year ago, with diluted EPS of $0.40 (vs. $3.74 prior year). Results were materially impacted by the April 1, 2024 consolidation of PTx Trimble…
10-K · February 27, 2024
AGCO reported 2023 net sales of $14,412.4 million (up 13.9% vs. 2022) and net income of $1,171.4 million, or $15.63 per diluted share, driven by positive pricing, improved product mix and favorable currency (income from…
10-Q · August 8, 2023
AGCO reported strong Q2 results with net sales of $3,822.7 million (up $877.5M or +29.8% vs Q2 2022) and diluted EPS of $4.26 (vs $2.37 a year ago). Gross profit rose to $1,005.7 million and operating income to $496.4…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.