EarningsQ2 2026 Earnings Report
MX:AGCO Q2 2026 EPS Results
Actual EPS$25.99
Consensus EPS$26.58
Beat/MissMissed by -$0.58
One Year Ago EPS$24.54
MX:AGCO Q2 2026 Revenue Results
Actual Revenue$47.44B
Expected Revenue$50.01B
Beat/MissMissed by -$2.57B
YoY Revenue Growth-0.96%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:AGCO Upcoming Earnings
Agco's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AGCO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call reflected a balanced picture: clear operational and strategic progress (EPS improvement, North American share gains, product and technology milestones, dealer inventory management, share repurchases) but also meaningful near-term headwinds (notably steep Latin America sales declines, margin compression, tariff costs, and a significant year-to-date free cash flow swing). Management emphasized disciplined production alignment, cost control, and investment in precision/ag technologies to navigate the cycle, while updating guidance to reflect moderated pricing and volume assumptions.Company Guidance
Adjusted EPS Growth
Adjusted earnings per share of $1.43 in Q2, up $0.08 year-over-year, indicating underlying earnings resilience despite softer sales.
North America Strength and Market Share Gains
North America net sales increased ~20% in Q2 (ex-currency), driven by higher unit volumes in high-horsepower tractors and hay tools, strong pricing (~3.5% in the quarter), and measurable market share gains.
Product and Technology Milestones
Fendt 800 series set a class fuel-efficiency record; 50,000th Fendt 900 Vario produced; launched OutRun mixed-fleet autonomy in Brazil with strong early feedback; Precision Planting SymphonyVision sales up ~35% year-to-date.
Dealer and Aftermarket Execution
Dealer inventories reduced across key regions (Europe ~3.5 months from <4, Latin America ~3.5 months from 4, North America just below 7 months moving toward 6); replacement parts sales of $516M in Q2, up ~3% reported, supporting stable aftermarket demand.
Balance Sheet and Capital Return Actions
Repurchased approximately $345M of AGCO shares during the quarter and declared a regular quarterly dividend of $0.30 per share, demonstrating commitment to returning capital.
Operational Efficiency and Engineering Investment
Operational efficiency initiatives expected to deliver $60M–$70M of benefits in 2026 while engineering investment remains a strategic priority at ~5% of sales.
Updated Full-Year Financial Targets
Updated 2026 guidance: full-year net sales of $10.1B–$10.2B, adjusted EPS $5.50–$5.75, adjusted operating margin ~7.5%, capex $300M–$325M, and target free cash flow conversion of 75%–100% of adjusted net income.
Tariff Mitigation Realization
Recorded ~$22M of IEEPA tariff refunds in Q2 which partially offset tariff-related headwinds and reduced net tariff impact for the year.
MX:AGCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed