Net Sales See Big Bump in AGCO’s Q3

AGCO net sales for the quarter that ended Sept. 30 increased by about 18.4 percent compared to the third quarter of 2019. Excluding the impacts of unfavorable currency translation, net sales in the quarter increased by about 20 percent.

The company’s North American net sales increased 3.1 percent in the first nine months of 2020 compared to the same period of 2019, excluding the negative impact of currency translation.

Increased North American sales of high horsepower tractors, hay equipment and precision planting products were partially offset by lower grain and protein product sales as well as sprayer sales.

Net sales in the South American region increased 30.4 percent in the first nine months of 2020 compared to 2019, excluding the impact of unfavorable currency translation. The improved results for South America reflect the benefit of higher sales and production and a richer sales mix, as well as cost reduction initiatives.