AGCO Releases Q2 Results

AGCO reported net sales of $2.1 billion for the second quarter of 2015, a decrease of about 24.8% compared to the $2.8 billion net sales for the same quarter last year.

Excluding unfavorable currency translation impacts, the year-to-year comparison changes to a 10.9% decline.

Chairman, President, and CEO Martin Richenhagen said the quarter was "highlighted by the successful reduction of our expenses and company inventory. By reducing production hours by approximately 22% compared to the second quarter of 2014, our June 2015 inventory levels were substantially lower than our position at June 2014." S