Duluth, Georgia - AGCO Corporation., an agricultural machinery manufacturer, announced net sales of $2.9 billion for the fourth quarter of 2025, marking a 1.1% increase compared to the same period in 2024. The prior-year quarter included $74.7 million in other revenue related to the divestiture of the company’s Grain & Protein business. When excluding favorable currency translation impacts of 6.4%, quarterly net sales declined 5.3% year over year.
For the full year 2025, AGCO reported net sales of approximately $10.1 billion, representing a 13.5% decrease from 2024. Fiscal 2024 results included $816.5 million in other revenue from the divestiture of most of the Grain & Protein business. Excluding favorable currency effects of 2.3%, full-year net sales fell 15.8% compared to the previous year.
Mr. Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer, said, “The company delivered strong fourth-quarter performance with an adjusted operating margin of 10.1%, highlighting the team’s ability to navigate pressures on farm income and global trade that affected overall industry activity. He noted that AGCO expanded its global market share, achieving its largest-ever gains in North American large agriculture, while disciplined production planning helped reduce both company and dealer inventories by the end of 2025.”
The company achieved a full-year adjusted operating margin of 7.7%, nearly double the performance recorded at the bottom of the last industry cycle. Strong working-capital management also supported record free cash flow, representing about 188% free cash flow conversion. These results underscore the resilience of AGCO’s earnings profile, supported by high-margin growth drivers, cost discipline, and the benefits of its multi-year structural transformation.
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