as of 04-09-2026 3:42pm EST
Agco is a global manufacturer of agricultural equipment. Its main machine brands are Fendt, Massey Ferguson, and Valtra; its initiatives in precision agriculture have been organized under the PTx umbrella following a series of acquisitions. While a global business, Agco's sales skew heavily toward Europe/Middle East, representing 50%-60% of sales and even more of operating profits. The company is trying to increase its exposure to the larger North and South American markets. Its products are available through a global dealer network, which includes over 3,000 dealer and distribution locations and reach into over 140 countries. Additionally, Agco offers retail and wholesale financing to customers through its unconsolidated joint venture with Rabobank of the Netherlands.
| Founded: | 1990 | Country: | United States |
| Employees: | N/A | City: | DULUTH |
| Market Cap: | 10.5B | IPO Year: | 1994 |
| Target Price: | $118.73 | AVG Volume (30 days): | 588.5K |
| Analyst Decision: | Hold | Number of Analysts: | 11 |
| Dividend Yield: | Dividend Payout Frequency: | quarterly | |
| EPS: | 9.75 | EPS Growth: | 271.35 |
| 52 Week Low/High: | $78.37 - $143.78 | Next Earning Date: | 04-30-2026 |
| Revenue: | $10,082,000,000 | Revenue Growth: | -13.55% |
| Revenue Growth (this year): | 6.55% | Revenue Growth (next year): | 5.59% |
| P/E Ratio: | 12.31 | Index: | N/A |
| Free Cash Flow: | 740.2M | FCF Growth: | +149.56% |
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SVP Engineering
Avg Cost/Share
$137.04
Shares
2,300
Total Value
$315,192.00
Owned After
16,844.46
SEC Form 4
| Insider | Ticker | Relationship | Date | Transaction | Avg Cost | Shares | Total Value | Owned After | SEC Forms |
|---|---|---|---|---|---|---|---|---|---|
| Bennett Kelvin Eugene | AGCO | SVP Engineering | Feb 17, 2026 | Sell | $137.04 | 2,300 | $315,192.00 | 16,844.46 |
SEC 8-K filings with transcript text
Feb 5, 2026 · 11% conf.
1D
-0.71%
$123.46
Act: +6.62%
5D
-3.52%
$119.96
Act: +11.73%
20D
-1.13%
$122.94
Act: -0.47%
agco-202602050000880266falseAGCO CORP /DE00008802662026-02-052026-02-05
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 5, 2026 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 5, 2026, AGCO Corporation (“AGCO” or the “Company”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), operating margin, net income (loss) attributable to AGCO, net income (loss) per share attributable to AGCO, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure. AGCO does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.
AGCO provides income (loss) from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring and business optimization expenses, amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble and impairment charges. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. Impairment charges vary in size and frequency. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three months and year ended December 31, 2025, AGCO
Oct 31, 2025
agco-202510310000880266falseAGCO CORP /DE00008802662025-10-312025-10-31
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 31, 2025 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On October 31, 2025, AGCO Corporation (“AGCO” or the “Company”) issued a press release reporting its financial results for the third quarter ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, operating margin, net income (loss) attributable to AGCO, net income (loss) per share attributable to AGCO, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure. AGCO does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.
AGCO provides income from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring and business optimization expenses, amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble and impairment charges. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. Impairment charges vary in size and frequency. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three and nine months ended September 30, 2025, AGCO recorded transaction c
Jul 31, 2025
agco-202507310000880266falseAGCO CORP /DE00008802662025-07-312025-07-31
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 31, 2025 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On July 31, 2025, AGCO Corporation (“AGCO” or the “Company”) issued a press release reporting its financial results for the second quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), operating margin, net income (loss) attributable to AGCO, net income (loss) per share attributable to AGCO, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure. AGCO does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.
AGCO provides income (loss) from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring and business optimization expenses, amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble and impairment charges. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. Impairment charges vary in size and frequency. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three and six months ended June 30, 2025, AGCO recorded transaction cos
May 1, 2025
agco-202505010000880266falseAGCO CORP /DE00008802662025-05-012025-05-01
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 1, 2025 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On May 1, 2025, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the first quarter ended March 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, operating margin, net income attributable to AGCO, net income per share attributable to AGCO, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure. AGCO does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.
AGCO provides income from operations, operating margin, net income and net income per share amounts that have been adjusted to exclude restructuring and business optimization expenses, amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble and impairment charges. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. Impairment charges vary in size and frequency. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three months ended March 31, 2025, AGCO recorded transaction costs related to the Company’s formation of the PTx Trimble joint venture
Feb 6, 2025
agco-202502060000880266falseAGCO CORP /DE00008802662025-02-062025-02-06
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 6, 2025 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 6, 2025, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), operating margin, net income (loss) attributable to AGCO, net income (loss) per share attributable to AGCO, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure. AGCO does not provide a quantitative reconciliation of forward-looking, non-GAAP financial measures to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations and providing them may imply a degree of precision that would be confusing or potentially misleading.
AGCO provides income (loss) from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring and business optimization expenses, amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble and impairment charges. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. Impairment charges vary in size and frequency. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three months and year ended December 31, 2024, AGCO recorded transacti
Nov 5, 2024
agco-202411050000880266falseAGCO CORP /DE00008802662024-11-052024-11-05
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 5, 2024 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On November 5, 2024, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the third quarter ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, operating margin, net income (loss), net income (loss) per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring and business optimization expenses and amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Business optimization expenses primarily related to professional services costs incurred as part of the restructuring program aimed to reduce structural costs and enhance global efficiencies by changing AGCO's operating model for certain corporate and back-office functions. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three and nine months ended September 30, 2024, AGCO recorded transaction costs related to the Company's acquisition of Trimble Inc.'s agriculture business through the formation of the PTx Trimble joint venture and the previously announced divestiture of the Company’s Grain & Protein business and recorded impairment charges related to certain amortizing intangible assets and an investment in an affiliate. In addition, the Company classified its Grain & Protein business as held for sale and recorded a loss on business held for sale during the three and nine months ended September 30, 2024. AGCO has provided income from operations, operating margin, net income (l
Jul 30, 2024
agco-202407300000880266falseAGCO CORP /DE00008802662024-07-302024-07-30
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 30, 2024 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On July 30, 2024, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the second quarter ended June 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), operating margin, net income (loss), net income (loss) per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income (loss) from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude restructuring expenses and amortization expense related to intangible assets acquired as part of the Company's acquisition of PTx Trimble. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. Amortization expense related to the PTx Trimble acquired intangibles is impacted by the valuation and size of the acquisition. AGCO believes these adjustments provide management and investors with greater visibility to the underlying performance of AGCO’s recurring core business operations. During the three and six months ended June 30, 2024, AGCO recorded transaction costs related to the Company's acquisition of Trimble Inc.'s agriculture business through the formation of the PTx Trimble joint venture and the announced divestiture of the Company’s Grain & Protein business and recorded impairment charges related to certain amortizing intangible assets and an investment in an affiliate. In addition, the Company classified its Grain & Protein business as held for sale and recorded a loss on business held for sale during the three and six months ended June 30, 2024. AGCO has provided income (loss) from operations, operating margin, net income (loss) and net income (loss) per share amounts that have been adjusted to exclude these restructuring expenses, amortization of PTx Trimble acquired intangible assets, transaction-related costs, impairment charges and loss on business held for sale. Adjusted operating margin is defined as the ratio of adjusted inc
May 2, 2024
agco-202405020000880266falseAGCO CORP /DE00008802662024-05-022024-05-02
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 2, 2024 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On May 2, 2024, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the first quarter ended March 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, operating margin, net income, net income per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, operating margin, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. In addition, during the three months ended March 31, 2024, AGCO recorded transaction costs related to the Company's acquisition of Trimble Inc.'s agriculture business through the formation of the PTx Trimble joint venture. AGCO has provided income from operations, operating margin, net income and net income per share amounts that have been adjusted to exclude these restructuring expenses and transaction related costs. Adjusted operating margin is defined as the ratio of adjusted income from operations divided by net sales. The net income and net income per share amounts provided for the three months ended March 31, 2023 have been adjusted for a one-time income tax provision charge related to a Brazilian tax amnesty program and the related U.S. income tax credits. AGCO believes that the adjusted amounts during three months ended March 31, 2024 and three months ended March 31, 2023 provide management and investors useful information as these items that are excluded relate to events that resulted in a significant impact during these quarters and may not be expected to recur in the future.
AGCO further provides net sales amounts that have been adjusted to exclude the impact of currency translation. AGCO believes that the adjusted amounts provide management and investors useful information to better analyze the causes of changes between periods.
AGCO’s management historically has focused on the generation of c
Feb 6, 2024
agco-202402060000880266falseAGCO CORP /DE00008802662024-02-062024-02-06
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 6, 2024 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 6, 2024, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2023. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, operating margin, net income, net income per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, operating margin, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. In addition, during 2023, AGCO recorded transaction costs related to its planned joint venture with Trimble Inc., an impairment charge related to certain amortizing intangible assets, foreign currency impacts related to the December 2023 Argentina currency devaluation and costs related to a completed divestiture. AGCO also recorded a one-time income tax benefit related to a change in the application of Swiss tax law and a one-time income tax provision charge related to a Brazilian tax amnesty program and the related U.S. income tax credits. AGCO has provided income from operations, operating margin, net income and net income per share amounts that have been adjusted to exclude these restructuring expenses, transaction related costs, impairment charge, Argentina foreign currency impacts and costs related to a completed divestiture. The net income and net income per share amounts provided for the year ended December 31, 2023 have also been adjusted for the one-time income tax benefit related to a change in the application of Swiss tax law and a one-time income tax provision charge related to a Brazilian tax amnesty program and the related U.S. income tax credits. Adjusted operating margin is defined as the ratio of adjusted income from operations divided by net sales. During 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AG
Oct 31, 2023
agco-202310310000880266falseAGCO CORP /DE00008802662023-10-312023-10-31
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 31, 2023 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On October 31, 2023, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the third quarter ended September 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business but vary in size and frequency. In addition, during the the three and nine months ended September 30, 2023, AGCO recorded transaction costs related to its planned joint venture with Trimble Inc. and costs related to a completed divestiture. AGCO has provided income from operations, net income and net income per share amounts that have been adjusted to exclude these transaction related costs and costs related to a completed divestiture. The net income and net income per share amounts provided for the nine months ended September 30, 2023 have also been adjusted for a one-time income tax provision related to a Brazilian tax amnesty program and the related U.S. income tax credits. For the nine months ended September 30, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the six months ended June 30, 2022. Additionally, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the nine months ended September 30, 2022. AGCO has provided income from operations, net income and net income per share amounts for the nine months ended September 30, 2022 that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously
Jul 27, 2023
agco-202307270000880266falseAGCO CORP /DE00008802662023-07-272023-07-27
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 27, 2023 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On July 27, 2023, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the second quarter ended June 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant. The net income and net income per share amounts provided for the six months ended June 30, 2023 have also been adjusted for a one-time income tax provision related to a Brazilian tax amnesty program and the related U.S. income tax credits. For the six months ended June 30, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the six months ended June 30, 2022. Additionally, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the six months ended June 30, 2022. AGCO has provided income from operations, net income and net income per share amounts for the six months ended June 30, 2022 that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously discussed. AGCO believes that the adjusted amounts
May 2, 2023
agco-202305020000880266falseAGCO CORP /DE00008802662023-05-022023-05-02
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 2, 2023 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On May 2, 2023, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the first quarter ended March 31, 2023. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant. The net income and net income per share amounts provided for the three months ended March 31, 2023 have also been adjusted for a one-time income tax provision related to a Brazilian tax amnesty program and the related U.S. income tax credits. For the three months ended March 31, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the three months ended March 31, 2022. Additionally, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the three months ended March 31, 2022. AGCO has provided income from operations, net income and net income per share amounts for the three months ended March 31, 2022 that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously discussed. AGCO believes that the adjus
Feb 7, 2023
agco-202302070000880266falseAGCO CORP /DE00008802662023-02-072023-02-07
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 7, 2023 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 7, 2023, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. In addition, during 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. And, AGCO recorded a write-down of its investment in its Russian finance joint venture during 2022. AGCO also recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during 2022. Last, AGCO recorded foreign currency translation impacts as a result of selling its interest in its Russian distribution joint venture. AGCO has provided income from operations, net income and net income per share amounts that have been adjusted to exclude these restructuring expenses, impairment charges, the write-down of the investment, divestiture-related foreign currency translation release, and the gain as previously discussed. During 2021, the net income and net income per share amounts provided also have been adjusted for non-cash adjustments to reverse previously established valuation allowances against certain AGCO’s net deferred income tax assets, reflected as one-time benefits to the tax provision. AGCO believes that the adjusted amounts during 2022 and 2021 provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the year, but wi
Nov 1, 2022
agco-202211010000880266falseAGCO CORP /DE00008802662022-11-012022-11-01
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 1, 2022 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On November 1, 2022, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the third quarter ended September 30, 2022. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant. In addition, during the nine months ended September 30, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the nine months ended September 30, 2022. Last, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the nine months ended September 30, 2022. AGCO has provided income from operations, net income and net income per share amounts that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously discussed. For the nine months ended September 30, 2021, net income and net income per share amounts also have been adjusted for a non-cash adjustment to reverse a previously established valuation allowance against AGCO’s net deferred income tax assets, reflected as a one-time benefit to the
Jul 28, 2022
agco-202207280000880266falseAGCO CORP /DE00008802662022-07-282022-07-28
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 28, 2022 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On July 28, 2022, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the second quarter ended June 30, 2022. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant. In addition, during the six months ended June 30, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the six months ended June 30, 2022. Last, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the six months ended June 30, 2022. AGCO has provided income from operations, net income and net income per share amounts that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously discussed, as AGCO believes that the adjusted amounts provide management and investors useful information as these items that are excluded relate to events that resulted in a significant impact during the quarter, and may not be expected to recur in the future.
AGCO further provides net sales amounts that have been adj
May 3, 2022
agco-202205030000880266falseAGCO CORP /DE00008802662022-05-032022-05-03
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 3, 2022 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On May 3, 2022, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the first quarter ended March 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant. In addition, during the first quarter ended March 31, 2022, AGCO recorded certain asset impairment charges related to the fair value of gross assets associated with AGCO’s joint ventures in Russia, as a consequence of the current conflict between Russia and Ukraine. AGCO also recorded a write-down of its investment in its Russian finance joint venture during the three months ended March 31, 2022. Last, AGCO recorded a gain associated with the acquisition of the remaining 50% equity interest in its former joint venture with Appareo Systems, LLC during the three months ended March 31, 2022. AGCO has provided income from operations, net income and net income per share amounts that have been adjusted to exclude these impairment charges, the write-down of the investment, and the gain as previously discussed, as AGCO believes that the adjusted amounts provide management and investors useful information as these items that are excluded relate to events that resulted in a significant impact during the quarter, and may not be expected to recur in the future.
AGCO’s management historically has focused on the ge
Feb 8, 2022
agco-202202080000880266falseAGCO CORP /DE00008802662022-02-082022-02-08
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 8, 2022 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On February 8, 2022, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2021. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share, cash flows from operating activities and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses and an impairment charge. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. During 2021, the net income and net income per share amounts provided also have been adjusted for non-cash adjustments to reverse previously established valuation allowances against certain AGCO’s net deferred income tax assets, reflected as one-time benefits to the tax provision. In addition, during 2020, AGCO's affiliate, Tractors and Farm Equipment Limited, repurchased a portion of its common stock from AGCO, which resulted in a gain. This gain has been adjusted and excluded from the 2020 net income and net income per share amounts. AGCO believes that the adjusted amounts during 2021 and 2020 provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter or year, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant.
AGCO’s management historically has focused on the generation of cash flow in order to reduce indebtedness and for other corporate purposes. Management uses free cash flow to assess its performance in this area. AGCO believes that free cash flow provides a meaningful measure to investors because, unlike cash flow from operations, it includes the impact of capital expenditures, and therefore, provides a more complete picture of cash generation.
AGCO also
Oct 28, 2021
agco-202110280000880266falseAGCO CORP /DE00008802662021-10-282021-10-28
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 28, 2021 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On October 28, 2021, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the third quarter ended September 30, 2021. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant.
The net income and net income per share amounts provided for the nine months ended September 30, 2021 also have been adjusted for a non-cash adjustment to reverse a previously established valuation allowance against AGCO’s net deferred income tax assets, reflected as a one-time benefit to the tax provision. AGCO believes that the adjusted amounts provide management and investors useful information because the benefits that are excluded relate to an event or events that resulted in a significant impact during the quarter or year, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant.
AGCO further provides net sales amounts that have been adjusted to exclude the impact of currency translation. AGCO believes that the adjusted amounts provide management and investors useful information to better analyze the causes of changes in between periods.
The information in this Form 8-K and the Exhibit shall not be deemed “filed” for purposes of Section 18 of the Securitie
Jul 29, 2021
agco-202107290000880266falseAGCO CORP /DE00008802662021-07-292021-07-29
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
July 29, 2021 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On July 29, 2021, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the second quarter ended June 30, 2021. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant.
AGCO further provides net sales amounts that have been adjusted to exclude the impact of currency translation. AGCO believes that the adjusted amounts provide management and investors useful information to better analyze the causes of changes in between periods.
The information in this Form 8-K and the Exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing of AGCO under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description 99.1 Press release of AGCO Corporation, issued July 29, 2021.
104Cover Page Interactive Data File - the cover page from this Current Report on Form 8-K is formatted in Inline XBRL.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AGCO Corporation
By:/s/ Andrew H. Be
Apr 29, 2021
agco-202104290000880266falseAGCO CORP /DE00008802662021-04-292021-04-29
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
April 29, 2021 Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
Delaware001-1293058-1960019 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification No.)
4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act Title of ClassTrading SymbolName of exchange on which registered Common stockAGCONew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.Results of Operations and Financial Condition.
On April 29, 2021, AGCO Corporation (“AGCO”) issued a press release reporting its financial results for the first quarter ended March 31, 2021. A copy of the press release is attached hereto as Exhibit 99.1.
In the press release, AGCO uses non-GAAP financial measures. For purposes of SEC Regulation G, a “non-GAAP financial measure” is a numerical measure of a registrant’s historical or future performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures should not be considered as alternatives to operating income, net income, net income per share and net sales as computed under GAAP for the applicable period. AGCO has included, as part of the press release, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure.
AGCO provides income from operations, net income and net income per share amounts that have been adjusted to exclude restructuring expenses. Restructuring expenses occur regularly in AGCO’s business, but vary in size and frequency. AGCO believes that the adjusted amounts provide management and investors useful information because the expenses that are excluded relate to events that resulted in a significant impact during the quarter, but will recur only in varied amounts and with unpredictable frequency. Management also uses these adjusted amounts to compare performance to budget when such impacts are significant.
AGCO further provides net sales amounts that have been adjusted to exclude the impact of currency translation. AGCO believes that the adjusted amounts provide management and investors useful information to better analyze the causes of changes in between periods.
The information in this Form 8-K and the Exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing of AGCO under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description 99.1 Press release of AGCO Corporation, issued April 29, 2021.
104Cover Page Interactive Data File - the cover page from this Current Report on Form 8-K is formatted in Inline XBRL.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AGCO Corporation
By:/s/ Andrew H.
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