AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $2.5 billion for the third quarter ended September 30, 2025, a decrease of 4.7% compared to the third quarter of 2024. The third quarter of 2024 included other revenue of $251.2 million which represents revenue from the Company's divestiture of the majority of its Grain & Protein business as shown in the regional net sales table. Reported net income was $4.09 per share for the quarter and adjusted net income(1) was $1.35 per share. These results compare to reported net income of $0.40 per share and adjusted net income(1) of $0.68 per share for the third quarter of 2024. Excluding favorable foreign currency translation of 3.7%, net sales in the quarter decreased 8.4% compared to the third quarter of 2024.
"AGCO delivered another solid quarter of navigating a complex global landscape shaped by challenging farm economics, high interest rates, and cautious capital investment," said Eric Hansotia, AGCO's Chairman, President and CEO. "Our continued investments in precision agriculture, autonomous solutions and sustainable technologies helped maintain demand for our premium brands. At the same time, we have responded decisively with disciplined production cuts, aggressive cost management, and accelerated strategic restructuring initiatives."
Hansotia continued, "While political shifts and global trade tensions weighed on farmer sentiment especially in North America, AGCO's diversified global footprint and Farmer-First strategy helped mitigate regional disruptions. Our strong earnings and improved cash flow generation reflect the structural changes we have made. We remain focused on improving productivity for farmers, driving growth across our portfolio and delivering value for our shareholders which has been enhanced with the previously announced $1 billion share repurchase program, expected to commence this quarter."
Net sales for the first nine months of 2025 were approximately $7.2 billion, a decrease of 18.4% compared to the same period in 2024. The first nine months of 2024 included other revenue of $741.8 million which represents revenue from the Company's divestiture of the majority of its Grain & Protein business as shown in the regional net sales table. For the first nine months of 2025, reported net income was $8.45 per share and adjusted net income(1) was $3.11 per share. These results compare to reported net loss of $(2.27) per share and adjusted net income(1) of $5.53 per share for the same period in 2024. Excluding favorable foreign currency translation of 1.0%, net sales in the first nine months of 2025 decreased 19.4% compared to the same period in 2024.
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