AGCO Corporation (AGCO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and AGCO published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. AGCO reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Effective January 1, 2026, AGCO moved its Mexico operations from North America to its South America segment, which it renamed Latin America, and recast prior periods. The year-ago regional figures here are the recast ones.
• Q3 2025 GAAP EPS of $4.09 included a $2.93 per share gain on the sale of AGCO's stake in Tractors and Farm Equipment Limited (TAFE), which AGCO's adjusted EPS excludes.

Source: AGCO Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How AGCO splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• AGCO's North America revenue was $485 million in Q3 2026, up 35% from $360 million in Q3 2025, 21% of total revenue.
• AGCO's Latin America revenue was $292 million in Q3 2026, down 15% from $346 million in Q3 2025, 13% of total revenue.
• AGCO's Europe/Middle East revenue was $1.3 billion in Q3 2026, down 19% from $1.6 billion in Q3 2025, 58% of total revenue.
• AGCO's Asia/Pacific/Africa revenue was $179 million in Q3 2026, up 14% from $157 million in Q3 2025, 8% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, AGCO said:

“AGCO's net sales for 2026 are expected to be from $9.8 to $10.0 billion.”

“Adjusted operating margins are projected to be about 7.0% reflecting continued emphasis on pricing discipline, cost management and operational alignment.”

“Based on these assumptions, 2026 adjusted earnings per share is targeted at approximately $5.50.”

“These estimates reflect tariff policies as of October 29, 2026, together with AGCO's established mitigation actions and sourcing strategies.”

Source: AGCO Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AGCO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and GAAP diluted EPS, each as first reported in that quarter's release. Q3 2025 EPS includes the $2.93 per share TAFE gain.

We do not hold a confirmed date for AGCO's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

AGCO sells farm equipment under the Fendt, Massey Ferguson, PTx and Valtra brands and reports four regional segments. Europe/Middle East is the largest: $1,306.1 million of the $2,262.5 million total in Q3 2026, followed by North America at $485.3 million, Latin America at $292.3 million and Asia/Pacific/Africa at $178.8 million. AGCO sells mostly to about 2,800 independent dealers and distributors in about 140 countries, and its finance joint ventures with Rabobank finance about 50% of retail sales of its tractors and combines in the markets where they operate. (AGCO Q3 2026 release, Oct 29, 2026; AGCO Form 10-K, 2025, Feb 13, 2026)

By product, tractors brought in $1,410.9 million in the quarter, down from $1,650.6 million, replacement parts $505.6 million, and combines, application equipment and other machinery $346.0 million. Tractors and combines together were about 64.5% of net sales and fell about 14.0%. Germany was the largest single country market at $281.6 million, against $408.1 million a year earlier. (AGCO Form 10-Q, Q3 2026, Oct 29, 2026)

Net sales fell 8.6%, or 8.7% excluding currency. Europe/Middle East sales fell 18.1% in constant currency, with the steepest drops in Germany, France, Italy and Spain, and Latin America fell 19.1%. North America rose 35.1% on higher unit sales of high-horsepower and mid-range tractors and parts, and Asia/Pacific/Africa rose 9.2%, mainly in Australia. AGCO estimates worldwide average price increases of about 0.3% in the quarter. (AGCO Q3 2026 release, Oct 29, 2026; AGCO Form 10-Q, Q3 2026, Oct 29, 2026)

AGCO describes the market as the weakest global industry demand in more than a decade. Its own estimates of industry retail tractor sales for the first nine months of 2026 were down 9% in North America, 17% in Brazil and 1% in Western Europe, with Western Europe down 9% in the third quarter alone. AGCO cut global production hours by about 19.4% in the quarter to align with demand and dealer inventories. (AGCO Q3 2026 release, Oct 29, 2026; AGCO Form 10-Q, Q3 2026, Oct 29, 2026)

AGCO's reported diluted EPS was $0.75 in Q3 2026, against $4.09 a year earlier, and adjusted EPS was $1.05, against $1.35. The year-ago GAAP figure included a $219.2 million gain, or $2.93 a share, on the sale of AGCO's interest in TAFE. This quarter's adjustments added back restructuring and business optimization expenses ($0.08 a share), amortization of PTx Trimble acquired intangibles ($0.16) and a $4.0 million discrete tax expense ($0.06). (AGCO Q3 2026 release, Oct 29, 2026)

Income from operations fell to $116.1 million from $151.6 million, and the operating margin to 5.1% from 6.1%; the adjusted operating margin was 6.1%, against 7.5%. North America swung to $13.8 million of operating income from a $42.0 million loss, helped by about $13.0 million of IEEPA tariff refunds, while Europe/Middle East income from operations fell $115.1 million. The effective tax rate was 37.0%, against 14.2% a year earlier. (AGCO Q3 2026 release, Oct 29, 2026; AGCO Form 10-Q, Q3 2026, Oct 29, 2026)

AGCO's diluted share count fell to 69.5 million from 74.7 million through accelerated share repurchases. Under a $293.0 million agreement signed in May 2026 it received 1,997,613 shares by June 30 and another 593,462 in July 2026, and about $383.1 million of repurchase authorization remained at September 30, 2026. The quarterly dividend was $0.30 a share, against $0.29. (AGCO Q3 2026 release, Oct 29, 2026; AGCO Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

AGCO gives a full-year outlook in its release. For 2026 it expects net sales of $9.8 to $10.0 billion, an adjusted operating margin of about 7.0% and adjusted EPS of approximately $5.50. It says the estimates reflect tariff policies as of October 29, 2026, and that changes to tariff policies could affect them. (AGCO Q3 2026 release, Oct 29, 2026)

AGCO expects industry demand in North America to remain below historical mid-cycle levels through the rest of 2026 and demand in Western Europe to remain challenged. Through the first nine months, net sales were $7,215.1 million and adjusted EPS $3.42. (AGCO Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover AGCO, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones AGCO's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AGCO is on is AGCO a buy or a sell?, what analysts expect next is on the AGCO forecast, and what the company does is on the AGCO Corporation (AGCO) stock page.

Every number on this page can be traced to a document AGCO published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.