AGCO Reports 15% Decline in Q2 Net Sales

AGCO reported net sales of $3.2 billion for the second quarter ended June 30, 2024, a decrease of 15.1% compared to the second quarter of 2023. Reported net loss was $(4.92) per share for the second quarter of 2024, which includes the estimated loss on the Grain & Protein business held for sale, and adjusted net income was $2.53 per share. Excluding unfavorable foreign currency translation of 0.9%, net sales in the second quarter of 2024 decreased 14.2% compared to the second quarter of 2023.

Net sales for the first six months of 2024 were approximately $6.2 billion, which is a decrease of 13.7% compared to 2023. For the first six months of 2024, reported net loss was $(2.67) per share, which includes the estimated loss on the Grain & Protein business held for sale, and adjusted net income was $4.85 per share.

Source: AgEquipmentIntelligence.com | Member since 1970