AGCO (AGCO) Q3 2026 Earnings
Adjusted EPS excludes restructuring and business optimization expenses ($0.08 per share), amortization of PTx Trimble acquired intangibles ($0.16) and discrete tax items ($0.06, including a $4.0 million net tax expense). GAAP diluted EPS was $0.75. North America results include approximately $13.0 million of IEEPA tariff refunds.
How Did AGCO Stock React to Q3 2026 Earnings?
Did AGCO Beat Earnings? Q3 2026 Results
Yes. AGCO reported Q3 2026 earnings of $1.05 a share on Oct 29, 2026, beating the $0.86 consensus estimate by 21.5%. Revenue was $2.3B against a $2.3B estimate.
AGCO Corp. posted a mixed third quarter for fiscal 2026, beating badly lowered profit expectations while falling short on revenue against what management described as the weakest global farm equipment demand environment in more than a decade. Adjusted EPS came in at $1.05, topping the $0.86 consensus by 21.53%, though GAAP diluted EPS of $0.75 reflected restructuring charges, PTx Trimble intangible amortization and discrete tax items. Revenue of $2.26 billion missed the $2.32 billion estimate by 2.63% and fell 8.6% from a year earlier, with Europe, Middle East and Africa bearing the heaviest pressure as constant-currency sales there dropped 18.1% amid weak farmer sentiment across Germany, France and Spain. North America was the quarter's clearest bright spot, swinging to a $13.80 million operating profit from a $42.00 million loss a year ago, aided by roughly $13.00 million in IEEPA tariff refunds, though those amounts remain subject to regulatory review. Looking ahead, AGCO guided full-year net sales of $9.80 to $10.00 billion, adjusted operating margins of approximately 7.0% and adjusted EPS of around $5.50, with industry demand expected to remain below mid-cycle levels through year-end.
- North America constant-currency sales up 35.1% on higher unit sales of high-horsepower and mid-range tractors and parts
- North America operating income of $13.8 million vs. a $42.0 million loss a year ago, aided by approximately $13.0 million of IEEPA tariff refunds
- Europe/Middle East constant-currency sales down 18.1% on weaker industry demand in Germany, France, Italy and Spain; segment income down $115.1 million
- Latin America constant-currency sales down 19.1% on softer industry demand
- Asia/Pacific/Africa constant-currency sales up 9.2% on higher sales in Australia, with segment income up $17.2 million on favorable mix
- Adjusted operating margin of 6.1% vs. 7.5% in Q3 2025
- Favorable foreign currency translation of 0.1%
“AGCO delivered resilient third-quarter results in what is the weakest global industry demand environment in more than a decade. While elevated input costs and uncertainty around commodity markets and the trade environment pushed industry demand below the last cyclical trough, we aligned production with demand, managed dealer inventories and maintained cost discipline.”
AGCO CEO, on the earnings call
What Is AGCO's Outlook?
For 2026, AGCO expects net sales of $9.8 to $10.0 billion, adjusted operating margins of about 7.0% and adjusted EPS of approximately $5.50. The outlook assumes continued pricing discipline, cost management and operational alignment, with production volumes planned to align dealer inventory with market demand. The estimates reflect tariff policies as of October 29, 2026 and established mitigation and sourcing actions; tariff changes could affect the projections. Industry demand is expected to remain below historical mid-cycle levels in North America and to stay challenged in Western Europe for the remainder of 2026.
AGCO YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.3B | $2.5B | −8.6% |
| Gross Profit | $565.4M | $646.5M | −12.5% |
| Operating Income | $116.1M | $159.7M | −27.3% |
| Net Income | $51.7M | $305.7M | −83.1% |
AGCO Revenue by Segment
AGCO Revenue by Geography
When Does AGCO Report Next?
Figures from SEC filings and company reports. Not investment advice.