AGCO Earnings Shows Big Gains in Big Equipment

AGCO recently reported its financial results for the quarter ending June 30.

Net sales for the quarter increased by about 43.5 percent compared to the second quarter last year.

For the first six months of the year, increases were 33.6 percent in net sales.

Broken down by region, sales increased by 32.2 percent in North America, 55.9 percent in South America, 56.7 in Asia/Pacific/Africa, and 45.4 percent in Europe/Middle East.
(These percentages are higher than comparisons in which AGCO excluded the impact of currency translations.)

North American sales of low horsepower tractors improved compared to last year, and demand for high horsepower tractors showed even greater gains, said Chairman, President and CEO Eric Hansotia. He said an extended fleet age and favorable commodity prices contributed to sales growth of North American large farm equipment and drove a 24 percent increase in the first six months of 2021 compared to last year.
AGCO raised its full-year outlook for net sales.

Source: AGCO | Member since 1972 | wil-rich.com