AGCO Reports 4Q Sales Declines

AGCO reported net sales of approximately $2.5 billion for the fourth quarter of 2014, a decrease of approximately 13.1% compared to net sales of approximately $2.9 billion for 4Q13.

Net sales for the full year of 2014 were approximately $9.7 billion, a decrease of approximately 9.9% compared to the same period in 2013. Excluding the impact of currency translation of approximately 2.4%, net sales for 2014 decreased approximately 7.5% compared to the same period in 2013.

Net sales in North America declined 11.5% in 2014 compared to 2013. The most significant decreases were in high-horsepower tractors and implements, with growth in small tractor sales and hay tools partially offsetting the declines. Income from operations for the full year of 2014 fell $106.7 million compared to the same period in 2013. Net sales for 2015 are expected to range from $8.1 to $8.3 billion, reflecting the impacts of softer market conditions and unfavorable currency translation.