AGGO Reports Net Sales Increase

AGCO reported net sales of about $1.6 billion for the first quarter of 2017, an increase of about 4.4 percent compared to the first quarter of 2016.

In North America, net sales decreased 5.7 percent in the first three months of 2017 compared to the same period last year. The company said its dealer inventory reduction efforts and softer industry demand contributed to lower North American sales. Sales declines were most significant in hay tools, grain storage equipment and sprayers. Increased sales of tractors partially offset those declines.

Net sales in the South American region increased 31.1 percent in the first three months of 2017 compared to last year. Sales increases in Brazil and Argentina produced most of the growth.

Net sales in Europe/Middle East increased by 4 percent. In the Asia/Pacific/Africa region, net sales increased by 22.1 percent in the same period over last year.