AGCO publishes transcript of Q2 2026 earnings call
Reuters2026/08/03 14:02- AGCO held its Q2 2026 earnings call on July 30 with CEO Eric Hansotia, CFO Damon Audia, IR head Greg Peterson, joined by analysts.
- Q2 net sales were about USD 2.6 billion, down 1% year over year; adjusted EPS USD 1.43; reported operating margin 5.4%.
- Guidance cut: 2026 net sales USD 10.1 billion-USD 10.2 billion; adjusted EPS USD 5.5-USD 5.75; adjusted operating margin about 7.5%.
- Tariffs: 2026 gross costs seen at about USD 115 million; USD 22 million IEEPA refunds booked in Q2; net impact USD 95 million.
- Europe demand surprised lower; Germany market weaker than expected; dealer inventories fell to about 3.5 months, pressuring sell-in and margins.
- Latin America sales fell 25% on constant currency; management underproducing versus retail by about 15% exiting the year to clear aged inventories.
- North America sales rose about 20% constant currency; pricing about 3.5%; inventories fell about 6% sequentially, signaling retail-driven share gains.
- Capital returns: USD 345 million of shares repurchased in Q2; quarterly dividend set at USD 0.3 per share; 2026 capex cut to USD 300-USD 325 million.
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