AGCO, the parent company of Massey Ferguson, Fendt and Valtra, reported turnover of $2.6bn for Q2 2026, a 1% decrease compared with the same period last year.

Excluding favourable foreign exchange effects, net sales fell 3.7%.

Reported net income totalled $77.2m, down 75.5% from $314.8m in Q2 2025.

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AGCO chairman, president and CEO Eric Hansotia said the company was continuing to adjust production and costs in response to weaker market conditions.

“We continue to take decisive actions to align production with retail demand, manage inventory levels across our dealer network and maintain strong discipline around operating expenses and working capital,” he said.

“Given weaker-than-expected industry conditions, currency fluctuations and a more cautious outlook for the balance of the year, we are adjusting our full-year outlook.”

Looking at the first six months of 2026, AGCO’s performance was broadly in line with last year. Excluding favourable currency effects of 5.7%, net sales increased 0.5% compared with the same period in 2025.

Revenue in Latin America declined 25%, while sales in Asia, the Pacific and Africa fell 7.7%

In North America, revenues rose 19.7%, driven by higher unit sales of large tractors and hay tools. In Europe and the Middle East, revenues fell 4.7%, despite growth in UK and German markets.

Revenue in Latin America declined 25%, while sales in Asia, the Pacific and Africa fell 7.7%. AGCO now expects full-year 2026 net sales to be between $10.1bn and $10.2bn.