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Wall Street expects a year-over-year increase in earnings on higher revenues when Agco (AGCO - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis farm equipment maker is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of +11.1%.

Revenues are expected to be $2.71 billion, up 3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.53% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Agco?For Agco, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.51%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Agco will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Agco would post earnings of $0.44 per share when it actually produced earnings of $0.94, delivering a surprise of +113.64%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Agco appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Agco (AGCO - Free Report) Established in 1990, headquartered in Duluth, GA, AGCO Corporation is a leading manufacturer and distributor of agricultural equipment and related replacement parts. The company offers a full product line of farm equipment through a wide network of dealers and distributors across 140 countries.  

AGCO is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.93; value investors should take notice.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.15 to $6.07 per share. AGCO boasts an average earnings surprise of +41.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, AGCO should be on investors' short list.

Indira Agarwal, the chief accounting officer at AGCO Corporation (AGCO 0.21%), disposed of 1,734 shares of common stock on July 10, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueShares sold (direct)1,734Transaction value$198,231Post-transaction shares (directly held)11,825Post-transaction value$1.35 millionTransaction value based on SEC Form 4 weighted average sale price ($114.32); post-transaction value based on July 10, 2026 market close ($114.32).

Key questionsWhat was the specific context of this stock disposition?
The transaction involved the withholding of 1,734 shares by the company to cover tax liabilities associated with the vesting of restricted stock units originally awarded to Indira Agarwal on July 10, 2024.Does this transaction provide a signal regarding executive sentiment?
No, because this was a non-discretionary tax withholding event, it does not reflect a change in the executive's investment thesis or outlook on the firm's valuation.What is the executive's current equity exposure?
Following this transaction, Indira Agarwal continues to hold 11,825 shares directly.How has the stock performed leading up to this transaction?
As of the July 10 transaction date, the company's common stock had a one-year gain of about 0.48%.Company OverviewMetricValueShare Price (as of market close 2026-07-10)$114.32Market Capitalization$8.3 billionRevenue (TTM)$10.4 billionNet Income (TTM)$771.0 millionCompany SnapshotAGCO Corporation manufactures and distributes a comprehensive portfolio of agricultural machinery, including high-horsepower tractors for large-scale operations, utility tractors for small to medium-sized farms, and specialized equipment for dairy and commercial applications, generating revenue through direct sales of equipment and replacement components.The company operates a global distribution model serving agricultural producers across diverse farm sizes and operational scales, generating revenue through equipment sales, aftermarket parts, and related agricultural machinery solutions.AGCO's primary customers include commercial farmers, agricultural cooperatives, and equipment dealers across North America, Europe, and international markets, with a focus on serving both large-scale row crop operations and smaller specialty farming segments.AGCO Corporation is a leading global manufacturer of agricultural machinery with a market capitalization of $8.3 billion and TTM revenues of $10.4 billion, serving a diverse customer base across multiple continents. The company's competitive position is strengthened by its extensive product portfolio spanning tractors, implements, and replacement components, combined with a robust global distribution network that reaches commercial and specialty farming operations. With 24,000 employees and a strategic focus on essential agricultural equipment, AGCO maintains a significant presence in the industrials sector's agricultural machinery segment.

What this transaction means for investorsThe filing makes clear that AGCO withheld these shares to cover the taxes due when Agarwal's restricted stock vested, a bookkeeping step that happens automatically on the vesting date. In other words, Agarwal didn't choose to sell and didn't time anything, and she still holds 11,825 shares directly. That said, the more interesting story is that AGCO is showing early signs of a cyclical turn. Though shares took a big hit earlier this year on tariff pressures, first-quarter results had reason to be positive. Revenue rose 14.3% to $2.34 billion, adjusted earnings of $0.94 per share more than doubled and crushed estimates, and management guided full-year revenue to a midpoint of $10.6 billion. CEO Eric Hansotia credited share gains in high-horsepower equipment and precision agriculture.

For long-term investors, the takeaway is to look past this filing and weigh the recovery against real headwinds that seem largely priced in: Management still expects flat-to-lower full-year production, Latin American demand fell more than 30%, and tariffs are set to cost roughly $135 million this year.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

DULUTH, Ga., July 9, 2026 /PRNewswire/ -- AGCO (NYSE: AGCO) today announced its second-quarter 2026 earnings release conference call is scheduled for Thursday, July 30, at 10 a.m. ET. The company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO's website at www.agcocorp.com under the "Investors" Section. The webcast will also be archived immediately afterward for 12 months.

About AGCO: 
AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com.

Additional AGCO News

AGCO Unveils "Legacies of the Land" Campaign Honoring Farming Families for America's 250th AGCO Advances Fuel Efficiency Across Its Fendt®, Massey Ferguson® and Valtra® Brands AGCO's Valtra® Produces 1000th CVT at Suolahti, Finland, Factory SOURCE AGCO Corporation

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Agco (AGCO - Free Report) , which belongs to the Zacks Manufacturing - Farm Equipment industry, could be a great candidate to consider.

When looking at the last two reports, this farm equipment maker has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 65.47%, on average, in the last two quarters.

For the last reported quarter, Agco came out with earnings of $0.94 per share versus the Zacks Consensus Estimate of $0.44 per share, representing a surprise of 113.64%. For the previous quarter, the company was expected to post earnings of $1.85 per share and it actually produced earnings of $2.17 per share, delivering a surprise of 17.30%.

Price and EPS Surprise

For Agco, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Agco has an Earnings ESP of +7.38% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

On June 25, 2026, AGCO Corp (AGCO) shares rose 3.7% today to a current price of $118.86. The stock has experienced a 52-week range of $99.21 to $143.78, reflect

The market expects Agco (AGCO - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 5. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis farm equipment maker is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of +7.3%.

Revenues are expected to be $2.3 billion, up 12.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.21% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Agco?For Agco, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.75%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Agco will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Agco would post earnings of $1.85 per share when it actually produced earnings of $2.17, delivering a surprise of +17.30%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Agco appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsCNH Industrial (CNH - Free Report) , another stock in the Zacks Manufacturing - Farm Equipment industry, is expected to report earnings per share of $0.01 for the quarter ended March 2026. This estimate points to a year-over-year change of -90%. Revenues for the quarter are expected to be $3.78 billion, down 1.2% from the year-ago quarter.

The consensus EPS estimate for CNH has been revised 8.2% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -214.29%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that CNH will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Net sales of $2.3 billion, up 14.3% year-over-year Reported earnings per share of $0.76 and adjusted earnings per share(1) of $0.94 Full-year adjusted earnings per share outlook increased to approximately $6.00 Regular quarterly dividend increased to $0.30 per share $350 million in share repurchases to commence in the second quarter of 2026 , /PRNewswire/ -- AGCO (NYSE: AGCO) reported net sales of $2.3 billion for the first quarter ended March 31, 2026, an increase of 14.3% compared to the first quarter of 2025. Reported net income was $0.76 per share for the quarter and adjusted net income(1) was $0.94 per share. These results compare to reported net income of $0.14 per share and adjusted net income(1) of $0.41 per share for the first quarter of 2025. Excluding favorable foreign currency translation of 9.6%, net sales in the quarter increased 4.7% compared to the first quarter of 2025.

"AGCO delivered healthy first‑quarter sales and margin results, reflecting disciplined execution in a demanding agricultural market and dynamic global environment," said Eric Hansotia, AGCO's Chairman, President and CEO. "We outpaced the market, particularly in high‑horsepower equipment and precision agriculture, underscoring the strength of our differentiated portfolio and Farmer‑First approach. We stayed focused on supporting customers while maintaining operational flexibility with continued production alignment delivering further progress on dealer and company inventories. We achieved near‑record first‑quarter margins in Europe and continued to grow market share in high-horsepower offerings in North America."

Hansotia continued, "The first quarter results demonstrate a resilient earnings profile, a solid margin structure and positive momentum from our multi‑year structural transformation that reinforce our confidence in our strategy which is delivering increased value to our shareholders underscored by our increased quarterly dividend and next phase of share repurchases. As we progress through 2026, we remain firmly focused on executing our Farmer‑First strategy with a strong innovation pipeline and continued cost discipline to support healthy cash generation, positioning AGCO to navigate ongoing subdued demand and deliver improved performance as market fundamentals recover while keeping farmers at the center of everything we do."

First Quarter Highlights

Reported regional sales results(2): Europe/Middle East ("EME") +20.3%, North America +10.0%, Latin America ("LATAM") (17.3)%, Asia/Pacific/Africa ("APA") +31.2% Constant currency regional sales results(1)(2)(3): EME +9.0%, North America +9.0%, LATAM (30.3)%, APA +20.9% Regional operating margin performance: EME 16.2%, North America (12.5)%, LATAM (19.3)%, APA 3.2% The Company plans to initiate $350 million in share repurchases in the second quarter of 2026 The Company's Board of Directors approved an increase in the Company's regular quarterly dividend to $0.30 per share, from $0.29 per share (1) See reconciliation of non-GAAP measures in appendix.

(2)  As compared to first quarter 2025.

(3) Excludes currency translation impact.

Today the Company is also announcing the strategic evolution of its long-standing AGCO Finance U.S. and Canada joint ventures to better align with evolving market dynamics and increasing regulatory and compliance requirements. The new framework will optimize regulatory capital efficiency and capital deployment while strengthening AGCO's strategic partnership with Rabobank and its commitment to providing competitive financing solutions to farmers and dealers. On April 30, 2026, the Company executed two purchase agreements with wholly owned subsidiaries of Rabobank to sell its 49% equity interests in the joint ventures in the U.S. and Canada, AGCO Finance LLC and AGCO Finance Canada, Ltd., respectively, for approximately $190.0 million. The proceeds will be utilized towards share repurchases. In connection with the purchase agreements, the Company entered into Financing Framework Agreements with wholly owned subsidiaries of Rabobank that establish the commercial terms governing the future provision of financing solutions. The Company will continue to evaluate similar agreements in respect of other joint ventures with wholly owned subsidiaries of Rabobank in the future.

Market Update

Industry Unit Retail Sales

Tractors

Combines

Three Months Ended March 31, 2026

Change from

Prior Year Period

Change from

Prior Year Period

North America(4)

(8) %

(7) %

Brazil(5)

(10) %

(38) %

Western Europe(5)

7 %

(5) %

(4)  Excludes compact tractors.

(5)  Based on Company estimates.

Hansotia concluded, "Global agricultural markets entered 2026 with heightened focus on cost management and productivity, particularly for crop‑focused producers operating with tight margins as corn, soybean and wheat prices are near breakeven levels amid ample global supplies and evolving geopolitical and trade dynamics. Developments in the Middle East increased volatility across global energy, logistics and input markets, resulting in higher fuel, fertilizer and transportation costs that reinforced the importance of operational efficiency. In the U.S., strong harvests continued to shape grain pricing and farm profitability, while livestock producers benefited from firmer pricing and improved cash receipts, supporting a more favorable backdrop in that sector. Overall sentiment among crop producers remains cautious as input costs stay elevated and government programs continue to play an important role in supporting farm income. While demand for new equipment remains measured across many markets, it has largely aligned with current farm economics. Adoption of smart farming technologies continues to advance as farmers emphasize productivity, efficiency and returns on invested capital, even as near‑term demand across several equipment categories remains selective."

North American industry retail tractor sales were 8% lower in the first three months of 2026 compared to the same period in 2025 with the most pronounced declines occurring in higher horsepower categories. Combine unit sales were 7% lower year-over-year during the same period. Current farm economics, evolving grain export demand and elevated input costs are expected to continue to pressure industry demand throughout 2026, particularly for larger equipment.

Brazil industry retail tractor sales were 10% lower in the first three months of 2026 compared to the same period in 2025 reflecting softer demand for larger tractors partially offset by improved demand for smaller and mid-size equipment. Brazil is producing near-record crops, but profitability is under pressure due to high production costs, particularly for imported fertilizer and demand for larger equipment has not yet shown renewed growth. High financing costs, tight credit and broader political dynamics are expected to continue to constrain demand in 2026.

Western Europe industry retail tractor sales were 7% higher during the first three months of 2026 compared to the same period in 2025 with growth across most of the Western European markets. Farm income levels in 2025, supported primarily by dairy and livestock producers, together with an aging equipment fleet, provides a foundation for 2026 industry demand to remain modestly above 2025 levels.

Regional Results

AGCO Regional Net Sales (in millions)

Three Months Ended March 31,

2026

2025

% change
from 2025

% change
from 2025
due to
currency
translation(6)

% change
excluding
currency
translation

North America

$     406.4

$     369.5

10.0 %

1.0 %

9.0 %

LATAM(7)

211.7

256.0

(17.3) %

13.0 %

(30.3) %

EME

1,600.8

1,330.5

20.3 %

11.3 %

9.0 %

APA

124.0

94.5

31.2 %

10.3 %

20.9 %

Total

$  2,342.9

$  2,050.5

14.3 %

9.6 %

4.7 %

(6)

See footnotes for additional disclosures.

(7)

Note: Effective January 1, 2026, the Company realigned its organizational structure to support its Farmer‑First transformation initiatives in North America. As a result, the Company's Mexico operations were transferred from the North America segment to the South America segment, which was renamed Latin America. Segment information for all prior periods presented has been retrospectively adjusted to reflect this change.

North America

North American net sales increased 9.0% during the first quarter of 2026 compared to the first quarter of 2025, excluding the impact of favorable currency translation. Higher unit sales compared to the prior year supported the increase in sales. The most significant sales increases occurred in high-horsepower tractors, hay tools and sprayers. Income from operations for the first quarter of 2026 was $26.8 million lower compared to the same period in 2025 and operating margins remained negative. This decrease was primarily a result of higher tariff-related input costs.

Latin America

Net sales in the Latin American region were 30.3% lower during the first quarter of 2026 compared to the first quarter of 2025, excluding the impact of favorable currency translation. Softer industry demand resulted in lower sales across all product categories. Income from operations for the first quarter of 2026 was $47.4 million lower compared to the same period in 2025. This decrease was primarily the result of significantly lower sales and negative pricing.

Europe/Middle East

Net sales in the Europe/Middle East region increased 9.0% during the first quarter of 2026 compared to the first quarter of 2025, excluding the impact of favorable currency translation. The increased sales resulted from increased unit volumes compared to the first quarter of 2025 which included dealer inventory de-stocking. Sales growth in Germany and the United Kingdom was partially offset by declines in Turkey and France. Growth in high-horsepower tractor sales drove most of the increase. Income from operations increased $104.6 million in the first quarter of 2026 compared to the same period in 2025. This increase was primarily a result of sales growth, favorable product mix and increased production volumes.

Asia/Pacific/Africa

Asia/Pacific/Africa region net sales increased 20.9% during the first quarter of 2026 compared to the first quarter of 2025, excluding favorable currency translation impacts. Higher sales in Australia and South Africa were partially offset by lower sales across most of the Asian markets. Income from operations increased $6.7 million in the first quarter of 2026 compared to the same period in 2025 primarily due to higher levels of sales and production volumes.

Outlook

AGCO's net sales for 2026 are expected to range from $10.5 to $10.7 billion. Adjusted operating margins are projected to range from 7.5% - 8.0% reflecting continued emphasis on pricing discipline, cost management and operational alignment. Production volumes are expected to remain relatively flat to slightly lower, with cost controls and positive pricing contributing to performance. Based on these assumptions, 2026 earnings per share are targeted at approximately $6.00. These estimates reflect tariff policies as of May 5, 2026, together with AGCO's established mitigation actions and sourcing strategies. Any changes to tariff policies or related responses could affect these projections.

* * * * *

AGCO will host a conference call for this earnings announcement at 10 a.m. Eastern Time on Tuesday, May 5. The Company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO's website at www.agcocorp.com under the "Investors" section. The webcast will also be archived immediately afterward for 12 months. A copy of this press release will be available on AGCO's website for at least 12 months following the call.

* * * * *

Safe Harbor Statement

Statements that are not historical facts, including the projections of earnings per share, production levels, sales, industry demand, market conditions, commodity prices, currency translation, farm income levels, margin levels, strategy, investments in product and technology development, new product introductions, restructuring and other cost reduction initiatives, production volumes, tax rates and general economic conditions, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. The following are among the factors that could cause actual results to differ materially from the results discussed in or implied by the forward-looking statements.

Our financial results depend entirely upon the agricultural industry, and factors that adversely affect the agricultural industry generally, including declines in the general economy, adverse weather, tariffs, increases in farm input costs, lower commodity prices, lower farm income and changes in the availability of credit for our retail customers, will adversely affect us. We maintain an independent dealer and distribution network in the markets where we sell products. The financial and operational capabilities of our dealers and distributors are critical to our ability to compete in these markets. Higher inventory levels at our dealers and high utilization of dealer credit limits as well as the financial health of our dealers could negatively impact future sales and adversely impact our performance. On April 1, 2024, we completed the acquisition of the ag assets and technologies of Trimble through the formation of a joint venture, PTx Trimble, of which we own 85%. Financing the PTx Trimble transaction significantly increased our indebtedness and interest expense. We also have made various assumptions relating to the acquisition that may not prove to be correct, and we may fail to realize all of the anticipated benefits of the acquisition. All acquisitions involve risk, and there is no certainty that the acquired business will operate as expected. Each of these items, as well as similar acquisition-related items, would adversely impact our performance. A majority of our sales and manufacturing takes place outside the United States, and many of our sales involve products that are manufactured in one country and sold in a different country. As a result, we are exposed to risks related to foreign laws, taxes and tariffs, trade restrictions, economic conditions, labor supply and relations, political conditions and governmental policies. The global trade landscape continues to be highly volatile. In 2025, the U.S. government implemented a series of tariffs on goods imported into the United States from various countries, and in many cases these measures resulted in reciprocal tariffs and other actions on goods exported from the United States. These tariffs and related actions are complex and continue to evolve as trade negotiations occur. In February 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act ("IEEPA"), which the U.S. government had relied on to impose certain tariffs, does not authorize the administration to impose such tariffs. Following that decision, on March 4, 2026, the U.S. Court of International Trade ("CIT") ordered U.S. Customs and Border Protection ("CBP") to process refunds of tariffs imposed under IEEPA, and on March 27, 2026, the CIT issued an amended order expanding the scope of entries subject to reliquidation. On April 20, 2026, the Consolidated Administration and Processing of Entries system opened for the first phase of refund filings. We have submitted certain refund claims under this initial phase; however, these claims remain subject to CBP review, and we cannot predict the timing, amount or ultimate collectability of any refunds to which we may be entitled. The IEEPA tariffs remain subject to ongoing litigation, and the administration has announced plans to implement new tariffs under alternative statutory authority. As a result, the timing and extent of any refunds, the structure and scope of any new tariffs and the overall tariff framework remain uncertain and could create significant risks for our business. Depending on the countries affected, increases in tariffs have raised, and may continue to raise, the costs of inputs used in manufacturing our products, which in turn has impacted, and may further impact, our cost of goods sold. In addition, higher tariffs may lead to increased after‑tariff sales prices for the products we sell. Additionally, the economic uncertainty caused by the tariffs may result in customers delaying planned purchases of products and services. While impacts of the tariffs may be partially mitigated by the fact that a majority of our sales and manufacturing takes place outside the United States, there can be no guarantee that we will be able to fully offset the impact of existing or future tariffs through pricing, sourcing changes or other measures. Furthermore, retaliatory tariffs imposed by other countries on our exported products could negatively affect our sales and marketplace access in those countries. The economic uncertainty caused by these tariffs and related trade policy developments, together with uncertainty regarding their enforceability, continuation or modification, has adversely impacted, and is expected to continue to adversely impact, our sales. We cannot predict or control the impact of the conflict in Ukraine or the Middle East on our business. These conflicts have already driven increased volatility across global energy, logistics and input markets, leading to higher fuel, fertilizer, transportation and input costs, as well as general uncertainty for farmers. There is a potential for natural gas shortages, as well as shortages in other energy sources, throughout Europe, which could negatively impact our production in Europe both directly and through interrupting the supply of parts and components that we use. It is unclear how long these conditions will continue, or whether they will worsen, and what the ultimate impact on our performance will be. In addition, AGCO sells products in, and purchases parts and components from, other regions where there could be hostilities. Any hostilities likely would adversely impact our performance. Most retail sales of the products that we manufacture are financed, either by our joint ventures with Rabobank or by a bank or other private lender. Our joint ventures with Rabobank, which are controlled by Rabobank and are dependent upon Rabobank for financing as well, finance approximately 50% of the retail sales of our tractors and combines in the markets where the joint ventures operate. Any difficulty by Rabobank to continue to provide that financing, or any business decision by Rabobank as the controlling member not to fund the business or particular aspects of it (for example, a particular country or region), would require the joint ventures to find other sources of financing (which may be difficult to obtain), or us to find another source of retail financing for our customers, or our customers would be required to utilize other retail financing providers. As a result of the recent economic downturn, financing for capital equipment purchases generally has become more difficult in certain regions and in some cases, can be expensive to obtain. To the extent that financing is not available or available only at unattractive prices, our sales would be negatively impacted. In addition, Rabobank also is the lead lender in our revolving credit facility and term loans and for many years has been an important financing partner for us. Any interruption or other challenges in that relationship would require us to obtain alternative financing, which could be difficult. Both AGCO and our finance joint ventures have substantial accounts receivable from dealers and end customers, and we would be adversely impacted if the collectability of these receivables was less than optimal; this collectability is dependent upon the financial strength of the farm industry, which in turn is dependent upon the general economy and commodity prices, as well as several of the other factors listed in this section. We can experience substantial and sustained volatility with respect to currency exchange rate and interest rate changes, which can adversely affect our reported results of operations and the competitiveness of our products. Our success depends on the introduction of new products, particularly engines that comply with emission requirements and sustainable smart farming technology, which require substantial expenditures; there is no certainty that we can develop the necessary technology or that the technology that we develop will be attractive to farmers or available at competitive prices. Our expansion plans in emerging markets, including establishing a greater manufacturing and marketing presence and growing our use of component suppliers, could entail significant risks. Our business is increasingly subject to regulations relating to privacy and data protection, and if we violate any of those regulations, or otherwise are the victim of a cyberattack, we could be subject to significant claims, penalties and damages. Cybersecurity breaches including ransomware attacks and other means are rapidly increasing. We continue to review and improve our safeguards to minimize our exposure to future attacks. However, there always will be the potential of the risk that a cyberattack will be successful and will disrupt our business, either through shutting down our operations, destroying data, exfiltrating data or otherwise. We depend on suppliers for components, parts and raw materials for our products, and any failure by our suppliers to provide products as needed, or by us to promptly address supplier issues, will adversely impact our ability to timely and efficiently manufacture and sell products. In addition, the potential of future natural gas shortages in Europe, as well as predicted overall shortages in other energy sources, could also negatively impact our production and that of our supply chain in the future. There can be no assurance that there will not be future disruptions. Any future pandemics could negatively impact our business through reduced sales, facilities closures, higher absentee rates and reduced production at both our plants and the plants that supply us with parts and components. In addition, logistical and transportation-related issues and similar problems may also arise. We have previously experienced significant inflation in a range of costs, including for parts and components, shipping and energy. While we have been able to pass along most of those costs through increased prices, there can be no assurance that we will be able to continue to do so. If we are not, it will adversely impact our performance. We face significant competition, and if we are unable to compete successfully against other agricultural equipment manufacturers, we would lose customers and our net sales and performance would decline. We have a substantial amount of indebtedness (and have incurred additional indebtedness as part of the PTx Trimble joint venture transaction), and, as a result, we are subject to certain restrictive covenants and payment obligations, as well as increased leverage generally, that may adversely affect our ability to operate and expand our business. Further information concerning these and other factors is included in AGCO's filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2025, and subsequent Form 10-Qs. AGCO disclaims any obligation to update any forward-looking statements except as required by law.

* * * * *

About AGCO

AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com. 

# # # # #

AGCO CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited and in millions)

March 31, 2026

December 31, 2025

ASSETS

Current Assets:

Cash and cash equivalents

$               514.9

$              861.8

Accounts and notes receivable, net

1,242.3

1,079.4

Inventories, net

3,001.8

2,709.3

Other current assets

579.2

545.6

Total current assets

5,338.2

5,196.1

Property, plant and equipment, net

1,954.8

1,996.2

Right-of-use lease assets

159.4

167.3

Investments in affiliates

628.1

609.9

Deferred tax assets

932.2

905.5

Other assets

474.6

481.0

Intangible assets, net

663.0

673.0

Goodwill

1,890.6

1,898.8

Total assets

$           12,040.9

$           11,927.8

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY

Current Liabilities:

Borrowings due within one year

$               555.5

$              117.7

Accounts payable

1,121.5

951.0

Accrued expenses

2,267.2

2,538.7

Other current liabilities

184.1

121.7

Total current liabilities

4,128.3

3,729.1

Long-term debt, less current portion and debt issuance costs

2,018.7

2,323.1

Operating lease liabilities

115.9

122.1

Pension and postretirement health care benefits

167.8

169.2

Deferred tax liabilities

123.7

126.5

Other noncurrent liabilities

894.5

885.1

Total liabilities

7,448.9

7,355.1

Redeemable noncontrolling interests

295.5

299.2

Stockholders' Equity:

Preferred stock

—

—

Common stock

0.7

0.7

Additional paid-in capital

—

0.5

Retained earnings

6,032.2

6,047.2

Accumulated other comprehensive loss

(1,736.4)

(1,774.9)

Total stockholders' equity

4,296.5

4,273.5

Total liabilities, redeemable noncontrolling interests and stockholders' equity

$           12,040.9

$           11,927.8

See accompanying notes to condensed consolidated financial statements.

AGCO CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in millions, except per share data)

Three Months Ended March 31,

2026

2025

Net sales

$           2,342.9

$           2,050.5

Cost of goods sold

1,761.5

1,529.9

Gross profit

581.4

520.6

Operating expenses:

Selling, general and administrative expenses

339.1

325.8

Engineering expenses

132.6

116.0

Amortization of intangibles

16.9

15.3

Impairment charges

2.1

1.1

Restructuring and business optimization expenses

10.0

13.0

Income from operations

80.7

49.4

Interest expense, net

15.2

18.5

Other expense, net

26.5

32.3

Income (loss) before income taxes and equity in net earnings of affiliates

39.0

(1.4)

Income tax provision

4.6

2.0

Income (loss) before equity in net earnings of affiliates

34.4

(3.4)

Equity in net earnings of affiliates

18.0

12.1

Net income

52.4

8.7

Net loss attributable to noncontrolling interests

2.6

1.8

Net income attributable to AGCO Corporation

$               55.0

$               10.5

Net income per common share attributable to AGCO Corporation

Basic

$               0.76

$               0.14

Diluted

$               0.76

$               0.14

Cash dividends declared and paid per common share

$               0.29

$               0.29

Weighted average number of common and common equivalent shares outstanding:

Basic

72.5

74.6

Diluted

72.7

74.7

See accompanying notes to condensed consolidated financial statements.

AGCO CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited and in millions)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net income

$               52.4

$                8.7

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation

66.7

60.5

Amortization of intangibles

16.9

15.3

Stock compensation expense

10.4

7.3

Impairment charges

2.1

1.1

Equity in net earnings of affiliates, net of cash received

(18.0)

(12.1)

Deferred income tax benefit

(23.6)

(27.3)

Other

4.0

6.6

Changes in operating assets and liabilities:

Accounts and notes receivable, net

(177.1)

44.7

Inventories, net

(284.1)

(149.4)

Other current and noncurrent assets

(24.0)

2.5

Accounts payable

202.3

177.9

Accrued expenses

(254.2)

(384.9)

Other current and noncurrent liabilities

15.8

36.9

Total adjustments

(462.8)

(220.9)

Net cash used in operating activities

(410.4)

(212.2)

Cash flows from investing activities:

Purchases of property, plant and equipment

(44.6)

(48.2)

Proceeds from sale of property, plant and equipment

0.1

1.1

Investments in unconsolidated affiliates, net

(8.5)

(0.1)

Other

(12.6)

(4.1)

Net cash used in investing activities

(65.6)

(51.3)

Cash flows from financing activities:

Proceeds from indebtedness

187.2

531.2

Repayments of indebtedness

(31.5)

(297.0)

Payment of dividends to stockholders

(21.0)

(21.6)

Payment of minimum tax withholdings on stock compensation

(4.6)

(7.4)

Net cash provided by financing activities

130.1

205.2

Effects of exchange rate changes on cash, cash equivalents and restricted cash

(1.0)

8.2

Decrease in cash, cash equivalents and restricted cash

(346.9)

(50.1)

Cash, cash equivalents and restricted cash, beginning of period

861.8

612.7

Cash, cash equivalents and restricted cash, end of period

$             514.9

$             562.6

See accompanying notes to condensed consolidated financial statements.

AGCO CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions)

1.     SEGMENT REPORTING

The Company has four operating segments which are also its reportable segments which consist of the North America, Latin America, Europe/Middle East and Asia/Pacific/Africa regions. Effective January 1, 2026, the Company realigned its organizational structure to support its Farmer‑First transformation initiatives in North America. As a result, the Company's Mexico operations were transferred from the North America segment to the South America segment, which was renamed Latin America. Segment information for all prior periods presented has been retrospectively adjusted to reflect this change. The Company's reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company's Chief Operating Decision Maker ("CODM"), Eric P. Hansotia, Chairman of the Board, President and Chief Executive Officer, evaluates segment performance primarily based on income from operations. The CODM utilizes income from operations to evaluate each segment's performance including the allocation of resources. Sales for each segment are based on the location of the third-party customer. The Company's selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income (loss) from operations for one segment may not be comparable to another segment. Segment results for the three months ended March 31, 2026 and 2025 based on the Company's reportable segments are as follows (in millions):

Three Months Ended March 31,

North
America

Latin
America

Europe/
Middle East

Asia/Pacific/
Africa

Total
Segments

2026

Net sales

$     406.4

$     211.7

$     1,600.8

$       124.0

$  2,342.9

Cost of goods sold

338.1

203.9

1,119.5

100.0

1,761.5

Selling, general and administrative expenses

82.2

36.0

142.1

17.4

277.7

Engineering expenses

37.1

12.7

80.2

2.6

132.6

Income (loss) from operations

$     (51.0)

$     (40.9)

$       259.0

$          4.0

$     171.1

2025

Net sales

$     369.5

$     256.0

$     1,330.5

$         94.5

$  2,050.5

Cost of goods sold

275.6

205.1

970.9

78.3

1,529.9

Selling, general and administrative expenses

84.8

34.2

135.2

16.4

270.6

Engineering expenses

33.3

10.2

70.0

2.5

116.0

Income (loss) from operations

$     (24.2)

$       6.5

$       154.4

$         (2.7)

$     134.0

A reconciliation from the segment information to the consolidated balances for income from operations is set forth below (in millions):

Three Months Ended March 31,

2026

2025

Segment income from operations

$            171.1

$            134.0

Impairment charges

(2.1)

(1.1)

Corporate expenses

(51.1)

(48.1)

Amortization of intangibles

(16.9)

(15.3)

Stock compensation expense

(10.3)

(7.1)

Restructuring and business optimization expenses

(10.0)

(13.0)

Consolidated income from operations

$             80.7

$             49.4

RECONCILIATION OF NON-GAAP MEASURES

This earnings release discloses adjusted income from operations, adjusted operating margin, adjusted net income, adjusted net income per share and net sales on a constant currency basis, each of which excludes amounts that are typically included in the most directly comparable measure calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). A reconciliation of each of those measures to the most directly comparable GAAP measure is included below.

The following is a reconciliation of reported income from operations, net income attributable to AGCO and net income per share attributable to AGCO to adjusted income from operations, adjusted net income and adjusted net income per share for the three months ended March 31, 2026 and 2025 (in millions, except per share data):

Three Months Ended March 31,

2026

2025

Income From
Operations

Net
Income(1)

Net Income
Per Share(1)

Income From
Operations

Net
Income(1)

Net Income
Per Share(1)

As reported

$         80.7

$       55.0

$       0.76

$         49.4

$       10.5

$       0.14

Restructuring and business optimization expenses(2)

10.0

8.4

0.12

13.0

9.7

0.13

Amortization of PTx Trimble acquired intangibles(3)

14.4

11.1

0.15

12.8

7.6

0.10

Transaction-related costs(4)

0.2

—

—

7.1

2.0

0.03

Impairment charges(5)

2.1

2.1

0.03

1.1

1.1

0.01

Discrete tax items(6)

—

(8.5)

(0.12)

—

—

—

As adjusted

$        107.4

$       68.1

$       0.94

$         83.4

$       30.9

$       0.41

____________________________________

(1) 

Net income and net income per share amounts are after tax.

(2)

The restructuring expenses recorded during the three months ended March 31, 2026 and 2025 related primarily to severance, business optimization and other related costs associated with the Company's restructuring program.

(3)

Amortization of intangibles related to intangibles acquired as part of the Company's acquisition of PTx Trimble.

(4)

The transaction-related costs recorded during the three months ended March 31, 2026 related to the Company's divestiture of the majority of its Grain & Protein ("G&P") business. The transaction-related costs recorded during the three months ended March 31, 2025 related to the Company's divestiture of the majority of its G&P business and the formation of the PTx Trimble joint venture.

(5)

The impairment charges recorded during the three months ended March 31, 2026 and 2025 primarily related to the impairment of certain other assets.

(6)

During the three months ended March 31, 2026, the Company received a refund resulting from a favorable resolution related to a prior settlement under the Brazilian government's "Litigation Zero" tax amnesty program.

The following is a reconciliation of adjusted operating margin for the  three months ended March 31, 2026 and 2025 (in millions, except margin data):

Three Months Ended March 31,

2026

2025

Net sales

$       2,342.9

$       2,050.5

Income from operations

80.7

49.4

Adjusted income from operations(1)

$         107.4

$           83.4

Operating margin(2)

3.4 %

2.4 %

Adjusted operating margin(2)

4.6 %

4.1 %

__________________________________

(1) 

Refer to the previous table for the reconciliation of income from operations to adjusted income from operations.

(2)

Operating margin is defined as the ratio of income from operations divided by net sales. Adjusted operating margin is defined as the ratio of adjusted income from operations divided by net sales.

The Company does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.

The following table sets forth, for the three months ended March 31, 2026 and 2025, the impact to net sales of currency translation by geographical segment (in millions, except percentages):

Three Months Ended March 31,

Change due to currency
translation

2026

2025

% change
from 2025

$

%

North America

$      406.4

$      369.5

10.0 %

$         3.7

1.0 %

Latin America(1)

211.7

256.0

(17.3) %

33.4

13.0 %

Europe/Middle East

1,600.8

1,330.5

20.3 %

150.6

11.3 %

Asia/Pacific/Africa

124.0

94.5

31.2 %

9.7

10.3 %

$    2,342.9

$    2,050.5

14.3 %

$      197.4

9.6 %

_________________________________

(1) 

Effective January 1, 2026, the Company realigned its organizational structure to support its Farmer‑First transformation initiatives in North America. As a result, the Company's Mexico operations were transferred from the North America segment to the South America segment, which was renamed Latin America. Segment information for all prior periods presented has been retrospectively adjusted to reflect this change.

SOURCE AGCO Corporation

For the quarter ended March 2026, Agco (AGCO - Free Report) reported revenue of $2.34 billion, up 14.3% over the same period last year. EPS came in at $0.94, compared to $0.41 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +1.71%. The company delivered an EPS surprise of +112.81%, with the consensus EPS estimate being $0.44.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Agco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- North America: $406.4 million compared to the $386.06 million average estimate based on four analysts. The reported number represents a change of +2.7% year over year.Net Sales- Asia/Pacific/Africa: $124 million versus $110.81 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +31.2% change.Net Sales- Europe/Middle East: $1.6 billion compared to the $1.59 billion average estimate based on four analysts. The reported number represents a change of +20.3% year over year.View all Key Company Metrics for Agco here>>>

Shares of Agco have returned +6% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Agco (AGCO - Free Report) Established in 1990, headquartered in Duluth, GA, AGCO Corporation is a leading manufacturer and distributor of agricultural equipment and related replacement parts. The company offers a full product line of farm equipment through a wide network of dealers and distributors across 140 countries.  Its full range of agricultural equipment, include tractors (generated 57% of 2020 sales), combines (3%), application equipment including self-propelled sprayers (3%), hay tools and forage equipment, and implements and other equipment (12%). Sales of replacement parts generated around 14% of the company’s sales in 2018.

AGCO is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 20.77; value investors should take notice.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $5.79 per share. AGCO boasts an average earnings surprise of +41.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, AGCO should be on investors' short list.

DULUTH, Ga., May 13, 2026 /PRNewswire/ -- AGCO (NYSE: AGCO) today announced it will participate in the J.P. Morgan 2026 Global Technology, Media and Communications Conference on Tuesday, May 19, 2026. The conference will include a fireside chat with Damon Audia, Senior Vice President and Chief Financial Officer, and Brian Sorbe, President, PTx, at 10:45 a.m. Eastern Time. Investors may listen to a live webcast of the presentation by accessing the "Events" section of the company's Investor Relations website at https://investors.agcocorp.com/events-and-presentations/upcoming-events. The webcast will also be archived immediately afterward for 12 months.

About AGCO

AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com.

Additional AGCO News

AGCO Honors America's Farmers at the "Great American Agriculture Celebration" in Washington, D.C. AGCO Parts Shop B2B Digital Technology Team Wins 2026 Digital Engineering Award AGCO Welcomes Ritchie Implement as New Full-Line Production Ag Dealer in Southwest Wisconsin SOURCE AGCO Corporation

© 2024 Getty Images / Getty Images News via Getty Images

I’ve been following Deere (NYSE:DE | DE Price Prediction) for years as a slow-moving industrial bet, and the most interesting line in agriculture right now sits buried inside SpaceX’s S-1 filing, where the iconic green-and-yellow brand shows up as a Starlink customer.

The partnership hiding in plain sight SpaceX’s S-1 names John Deere directly. The filing states the company has “partnered with land mobility operators, including John Deere and the California Fire Department” to provide remote monitoring and management of fleets. Starlink’s industrial pitch is straightforward: serve as “a connectivity backbone for connected equipment and telemetry-driven workflows, enabling real-time monitoring and remote operations in agriculture, energy, and logistics environments.”

That matters because terrestrial networks cover only approximately 20% of global land mass, and the most valuable acres a Deere combine touches sit firmly outside that footprint. A tractor running See & Spray AI or Harvest Settings Automation is useless if it can’t phone home.

Why connectivity is now Deere’s product CFO Josh Jepsen put numbers on this shift during the Q1 FY2026 call. Deere hit 500 million engaged acres, with approximately 25% growth in “highly engaged” acres. Jepsen tied that directly to satellite: “Nearly 1/3 of those engaged acres are highly engaged… which speaks to what we’re doing on connectivity and making sure we’re reaching deeper into the fleet.”

Customer behavior is following. 99% of combines ordered through the Early Order Program include some level of harvest automation, with nearly 80% taking the highest “ultimate package.” Think of Starlink as the toll bridge connecting that software to the field.

The financials beneath the bet Deere posted Q1 FY2026 EPS of $2.42 against a $2.10 consensus on revenue of $9.61 billion, and raised FY2026 net income guidance to $4.5 billion to $5.0 billion. CEO John May framed the cycle bluntly: “2026 represents the bottom of the current cycle and provides us with a strong foundation for accelerated growth going forward.”

Shares are up 21% year-to-date to $560.46, with a market cap near $151 billion.

AGCO’s open-system counterpunch AGCO (NYSE:AGCO) is attacking from below with PTx Trimble retrofit autonomy. CEO Eric Hansotia said the company “outpaced the market, particularly in high-horsepower equipment and precision agriculture.” AGCO posts Q1 2026 adjusted EPS of $0.94 against a $0.44 estimate, and is targeting $2 billion in precision ag sales by 2029. Its strategy is Android-like openness across mixed fleets. Deere’s is Apple-like vertical integration, now with a Starlink uplink.

What I’m watching The Starlink line in the S-1 is one sentence. The implication is a decade of moat. If precision agriculture is a software business that ships in green paint, Deere’s SpaceX tie-up is the connectivity layer that makes the rest defensible. If farmers revolt over right-to-repair and pick open ecosystems, AGCO’s retrofit play wins. Either way, the tractor is now a node on a satellite network, and that changes the unit of competition.

AGCO chairman and CEO Eric Hansotia forecasts the challenges farmers will face due to fertilizer and energy price pressures on ‘The Claman Countdown.' #fox #media #breakingnews #us #usa #new #news #breaking #foxbusiness #theclamancountdown #agco #erichansotia #farmers #farming #agriculture #economy #business #finance #energy #fertilizer #iran #markets #global #world #supplychain #food #investment #commodities

Independent testing highlights how AGCO Power™ engines and driveline integration help farmers reduce fuel use while maintaining field performance.

, /PRNewswire/ -- AGCO (NYSE: AGCO) is advancing fuel saving technologies that help farmers reduce operating costs while maintaining performance, reliability and uptime during critical fieldwork, with results reflected in independent DLG (Deutsche Landwirtschafts-Gesellschaft) PowerMix testing. Those gains are being delivered across the company's Fendt®, Massey Ferguson® and Valtra® brands, supported by engine development and integrated powertrain solutions from AGCO Power™, the company's power solutions division that designs and manufactures engines and related systems.

Tractors from across AGCO brands, including (left to right) Fendt’s 700 Vario Gen 7, Massey Ferguson’s 8S Xtra and Valtra’s G Series, reflect the company’s focus on fuel-saving performance through advanced engine and driveline integration. "For farmers, fuel efficiency is about lowering operating costs without sacrificing the performance and reliability they need during critical fieldwork," said Kari Aaltonen, Director, Engineering, AGCO Power. "Across our brands, AGCO Power focuses on engineering engines and integrated powertrains that deliver measurable efficiency gains in real working conditions."

In Fendt's latest tractor platforms, the AGCO Power CORE engine family is a central part of the powertrain lineup. CORE engines are in use in several of the brand's Vario series tractors, including the CORE50 in the Fendt 600 Vario series and the CORE75 in the Fendt 700 Vario Gen7 series. Independent testing of the Fendt 700 Vario series, with its CVT transmission, demonstrated strong fuel efficiency performance across both field and transport applications, reinforcing Fendt's focus on delivering efficient power in high-horsepower tractors.

Massey Ferguson also uses AGCO Power engines in its current product lineup, and the impact is demonstrated in independent tests. In recent DLG PowerMix testing, the Massey Ferguson 8S.265 Xtra Dyna E-Power™ placed first overall for fieldwork in its category. The results highlight how AGCO Power engine integration, combined with Massey Ferguson transmission and tractor design choices, delivers measurable efficiency outcomes in real–world operating scenarios.

Across Valtra's tractor range, AGCO Power engines serve as the long-standing power source, paired with efficiency-focused operating concepts integrated into the overall driveline. Valtra's EcoPower™ operating philosophy focuses on maintaining high torque at lower engine speeds, supporting lower fuel consumption across typical field and transport applications, an approach reflected in DLG PowerMix results and other independent comparison testing cited by the brand. Valtra also uses a selective catalytic reduction (SCR) system to enable efficient combustion, contributing to improved fuel consumption compared with previous engine generations.

AGCO's Fendt, Massey Ferguson and Valtra brands are seeing measurable fuel efficiency gains through the combination of AGCO Power's proven engine technology and brand-specific tractor and powertrain integration. For farmers, that means lower fuel costs without sacrificing the performance and reliability demanded in real-world work.

Fendt, Massey Ferguson and Valtra are registered trademarks of AGCO. AGCO Power, Dyna E-Power and EcoPower are trademarks of AGCO.

About AGCO
AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™.  AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com.  

SOURCE AGCO Corporation

A month has gone by since the last earnings report for Agco (AGCO - Free Report) . Shares have lost about 0.5% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Agco due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for AGCO Corporation before we dive into how investors and analysts have reacted as of late.

AGCO Corp. Q1 Earnings Beat Estimates, Sales Up Y/YAGCO posted adjusted earnings of 94 cents per share for the first quarter of 2026, handily beating the Zacks Consensus Estimate of 44 cents. The quarter’s adjusted figure compared with 41 cents a year ago. 

Including one-time items, earnings were 76 cents per share compared with 14 cents in the year-ago quarter.

Net sales rose 14.3% year over year to $2.34 billion and edged past the Zacks Consensus Estimate of $2.30 billion. The company pointed to disciplined execution in a challenging market, with outperformance in high-horsepower equipment and precision agriculture, even as North America industry unit retail tractor sales were down 8% year over year in the quarter.

Gross Margin Down Y/YCost of sales increased 15.1% year over year to $1.76 billion in the first quarter. Gross profit rose 11.7% year over year to $581.4 million in the reported quarter. The gross margin was 24.8% compared with the prior-year quarter’s 25.4%. Selling, general and administrative expenses were $339.1 million compared with the year-ago quarter’s $325.8 million. Adjusted income from operations increased 28.8% year over year to $107.4 million. The adjusted operating margin was 4.6% compared with the year-earlier quarter’s 4.1%.

Q1 Segmental PerformanceSales in the North America segment increased 10% year over year to $406.4 million in the first quarter. The segment reported an operating loss of $51 million compared with the prior-year quarter’s operating loss of $24.2 million.

Sales in the Latin America segment decreased 17.3% year over year to $211.7 million. The segment reported an operating loss of $40.9 million against the year-ago quarter’s operating income of $6.5 million.

The EME (Europe/Middle East) segment’s sales were $1.60 billion compared with $1.33 billion in the year-ago period, up 20.3% year over year. EME’s operating income was $259 million compared with the year-ago quarter’s $154.4 million.

Sales in the Asia/Pacific/Africa segment increased 31.2% year over year to $124 million. The segment reported an operating profit of $4 million against the prior-year quarter’s operating loss of $2.7 million.

Cash Flow UpdateAGCO Corp reported cash and cash equivalents of $514.9 million as of Mar. 31, 2026, down from $861.8 million as of Dec. 31, 2025. Net cash used in operating activities totaled $410.4 million in the quarter compared with $122.2 million in the year-ago quarter.

Lifts 2026 EPS ViewThe company increased its full-year adjusted earnings per share outlook to approximately $6.00. AGCO also raised its regular quarterly dividend to $0.30 per share from $0.29, reinforcing its commitment to returning cash to shareholders.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.

VGM ScoresCurrently, Agco has a subpar Growth Score of D, a grade with the same score on the momentum front. However, the stock was allocated a score of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Agco has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerAgco is part of the Zacks Manufacturing - Farm Equipment industry. Over the past month, CNH Industrial (CNH - Free Report) , a stock from the same industry, has gained 2%. The company reported its results for the quarter ended March 2026 more than a month ago.

CNH reported revenues of $3.83 billion in the last reported quarter, representing a year-over-year change of -0.1%. EPS of $0.01 for the same period compares with $0.10 a year ago.

CNH is expected to post earnings of $0.11 per share for the current quarter, representing a year-over-year change of -35.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.3%.

CNH has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

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What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +24% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Agco (AGCO - Free Report) Established in 1990, headquartered in Duluth, GA, AGCO Corporation is a leading manufacturer and distributor of agricultural equipment and related replacement parts. The company offers a full product line of farm equipment through a wide network of dealers and distributors across 140 countries.  

AGCO is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.55; value investors should take notice.

For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.25 to $5.99 per share. AGCO boasts an average earnings surprise of +41.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, AGCO should be on investors' short list.