AGCO’s first-quarter net sales rose to $2.34 billion from $2.05 billion a year earlier, up 14.3%, with 4.7% of the gain coming from higher volume and pricing after stripping out currency effects. Reported earnings increased to $0.76 per share from $0.14, while adjusted earnings climbed to $0.94 per share from $0.41.
Europe/Middle East was the company’s biggest growth engine, with sales of $1.60 billion, up 20.3% from $1.33 billion. North America sales rose 10.0% to $406.4 million from $369.5 million. Asia/Pacific/Africa sales jumped 31.2% to $124.0 million from $94.5 million. Latin America moved the other way, with sales falling 17.3% to $211.7 million from $256.0 million.
Excluding currency, Europe/Middle East sales were up 9.0%, North America up 9.0%, Asia/Pacific/Africa up 20.9%, and Latin America down 30.3%.
On profitability by region, Europe/Middle East posted a 16.2% operating margin, North America was at negative 12.5%, Latin America at negative 19.3%, and Asia/Pacific/Africa at 3.2%. AGCO said North America operating income fell by $26.8 million year over year, Latin America by $47.4 million, Europe/Middle East rose by $104.6 million, and Asia/Pacific/Africa increased by $6.7 million.
The company lifted its full-year adjusted earnings target to about $6.00 per share and kept its 2026 sales outlook at $10.5 billion to $10.7 billion. It also raised the regular quarterly dividend to $0.30 from $0.29 and plans to begin $350 million in share repurchases in the second quarter.
AGCO also said it agreed to sell its 49% stakes in its U.S. and Canada finance joint ventures for about $190 million, with the proceeds earmarked for buybacks. As a result of these announcements, the company's shares have moved -0.35% on the market, and are now trading at a price of $120.86. For the full picture, make sure to review 's 8-K report.
