Duyuru • Apr 25
AGCO Announces Quarterly Dividend Increase, Payable on June 15, 2026 AGCO announced its Board of Directors approved an increase in the Company's regular quarterly dividend to $0.30 per share, from $0.29 per share. The Board also declared a regular quarterly dividend of $0.30 per share, payable on June 15, 2026, to all stockholders of record as of the close of business May 15, 2026. At the new rate, dividends on an annual basis would total $1.20 per common share. Duyuru • Apr 14
AGCO Corporation to Report Q1, 2026 Results on May 05, 2026 AGCO Corporation announced that they will report Q1, 2026 results on May 05, 2026 Duyuru • Mar 13
AGCO Corporation, Annual General Meeting, Apr 23, 2026 AGCO Corporation, Annual General Meeting, Apr 23, 2026. Location: agco corporation, 4205 river green parkway, duluth, ga 30096, United States Duyuru • Mar 11
AGCO Appoints Jena Holtberg-Benge as Chief Digital & Information Officer, Effective March 16, 2026 AGCO on March 11, 2026 announced the appointment of current AGCO Vice President of Aftersales Parts Jena Holtberg-Benge as the company's new Chief Digital & Information Officer (CDIO), effective March 16, 2026. Holtberg-Benge joined AGCO in 2023 and has led the company's Aftersales Parts business to resilient growth through cost discipline while scaling digital, AI-led transformations to support dealers and farmers. Holtberg-Benge brings more than two decades of agricultural background and global leadership experience spanning manufacturing, digital solutions, operations and business development. She is recognized for sustained business delivery across complex environments and translating strategy into execution, including leading large-scale digital transformations to modernize core platforms, especially in e-commerce. As CDIO, Holtberg-Benge will lead AGCO's digital, data and information technology strategy, with a focus on information security and enabling scalable capabilities that support the company's long-term growth ambitions. Holtberg-Benge will be based in AGCO's global headquarters in Duluth, Georgia. She holds a master's degree in international management from the Thunderbird School of Global Management and an undergraduate degree in international studies from Vassar College. Duyuru • Mar 05
AGCO Corporation Announces Board Changes AGCO Corporation announced the appointment of James C. Collins, Jr. to its Board of Directors, effective April 1, 2026. Collins brings nearly four decades of leadership experience across the global agriculture and food value chain, with a strong track record of driving innovation, growth and sustainable outcomes. Collins previously served as Chief Executive Officer and a member of the Board of Directors of Corteva Agriscience after he led the creation of the agriscience company in 2019 following the DowDuPont merger. He joined DuPont in 1984 and held senior leadership roles across multiple businesses, including Chief Operating Officer of DowDuPont's Agriculture Division and Executive Vice President of DuPont's agricultural segments. During his career, Collins developed DuPont's biobased industrials strategy, oversaw the integration of the Danisco acquisition to build a leading industrial biosciences organization and led large DuPont business segments including Performance Materials and Electronics & Communications. He has also overseen the launch of numerous new products and the development of strong global research and innovation pipelines. Collins lived and worked in Asia for five years, helping establish DuPont's agricultural presence across the region. Collins currently serves on the Board of Directors of Archer-Daniels-Midland Company, where he is a member of the Audit and the Compensation and Succession Committees. He also serves on the boards of private companies: Vestaron Corporation and Pivot Bio. Collins has an MBA focused on international business from the University of Delaware and a Bachelor of Science degree in chemical engineering from Christian Brothers College. The company also announced Matthew Tsien has elected not to stand for re-election at the upcoming annual meeting of stockholders. Duyuru • Feb 17
Agco Brands Showcase Innovations and Autonomous Solutions At 2026 Commodity Classic AGCO will showcase its Fendt®?, Massey Ferguson®? and PTx™? brands at the 2026 Commodity Classic in San Antonio, Texas, on February 25-27. More than 24,000 square feet of combined exhibits will highlight the brands' latest precision ag equipment, retrofit innovations and advanced autonomy solutions along with opportunities for attendees to connect with experts and learn how AGCO's farmer-focused solutions can drive productivity, efficiency and profitability across their entire operation. Fendt (booth 1181) will highlight its latest advancements in power, precision and autonomy by debuting the all-new Fendt 500 Vario®? Series, combining compact size with performance, the FendtONE™? platform and smart farming capabilities for industry leading versatility. The Fendt 800 Vario Gen5 redefines productivity with its premium comfort features, including a massage seat and UltraVision LED lighting, while delivering exceptional flexibility and fuel efficiency. Equipped with PTx Trimble™? OutRun™? grain cart and tillage solutions, the Fendt 1000 Vario Gen4 Tractor showcases the future of farming with fully autonomous operations. Attendees can also preview cleaning performance and automation updates to the Fendt IDEAL®? combine. Massey Ferguson (booth 781 and 1081) will highlight its newest advancements in dependable, straightforward equipment, now enhanced with intuitive, field-proven technology solutions like tractor implement management (TIM) and PTx FarmEngage™?. The display will feature the MF 9S tractor alongside the 500R sprayer and planter, demonstrating the brand's commitment to delivering practical, high-performance equipment for every operation. Massey Ferguson will also introduce MF Always Running, a built-in warranty program designed to provide predictable ownership, reduce risk and maximize uptime for today's farmers. The PTx exhibit (booth 1681) will feature innovative products from both the Precision Planting®? and PTx Trimble brands. New product highlights will be those announced at its recent Winter Conference: Precision Planting ArrowTube™?, a seed orientation device, and Precision Planting SymphonyVision™? | Duo, an intelligent spray system that allows broadcast and targeted spray in a single pass. Also on display will be PTx Trimble OutRun, a retrofit autonomy system to enhance field efficiency. Experts from PTx will be on hand for consultative conversations with growers about improvements they can make in their operation in 2026 to see yield, economic and efficiency gains. Commodity Classic attendees can experience AGCO's full lineup of innovations by visiting the company's exhibits throughout the show. To learn more about AGCO's brands and solutions, visit AGCOcorp.com for product details, dealer information and additional resources. Fendt, IDEAL, Massey Ferguson and Vario are registered trademarks of AGCO. Duyuru • Feb 05
AGCO Corporation Provides Earnings Guidance for the Year 2026 AGCO Corporation provided earnings guidance for the year 2026. The company's net sales for 2026 are expected to range from $10.4 to $10.7 billion. Based on these assumptions, 2026 earnings per share are targeted at approximately $5.50 to $6.00. Duyuru • Feb 03
AGCO Brands Debut New Technology and Solutions at World Ag Expo AGCO will exhibit equipment and new innovations from its Fendt and Massey Ferguson brands at the World Ag Expo in Tulare, California, on February 10-12. In 2026, AGCO's display will move to the front of the show grounds for more space and a shared Road-and-Drive area with California dealership Quinn Company. Attendees will see the company's latest innovations and award-winning equipment, including Fendt's e100 Vario battery-powered tractor and Massey Ferguson's SB.1436DB double baler. The Fendt exhibit will be highlighted by the North American debut of the Fendt e100 Vario. This compact, battery-powered tractor is designed for high efficiency and resource conservation, featuring a versatile electric drive that supports both traditional and electrified attachments. With the ability to fully charge in under five hours, the e100 Vario is practical for diverse applications, from farming to municipal tasks. Fendt will also showcase existing equipment lines, such as the Fendt 1000 Vario Gen4, a highly adaptable fixed-frame tractor; the Fendt 200 V/F/P Vario, tailored for vineyards, fruit plantations and special crops; and the Fendt Rogers 900 Series applicator, the industry's only rear boom applicator with two-height adjustable clearance. Massey Ferguson will highlight its newest advancements in dependable, straightforward equipment, now enhanced with intuitive, field-proven technology solutions like PTx FarmEngage fleet and farm management. The display will feature the MF 9S tractor, the Massey Ferguson compact utility product line up and Hesston by Massey Ferguson hay equipment line, demonstrating the brand's commitment to delivering practical, high-performance equipment for every operation. Massey Ferguson will also introduce MF Always Running, an built-in warranty program designed to provide predictable ownership, reduce risk and maximize uptime for today's farmers. Duyuru • Jan 16
AGCO Announces Quarterly Dividend, Payable on March 16, 2026 AGCO announced its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on March 16, 2026, to all stockholders of record as of the close of business February 13, 2026. Duyuru • Jan 15
AGCO Corporation to Report Q4, 2025 Results on Feb 05, 2026 AGCO Corporation announced that they will report Q4, 2025 results on Feb 05, 2026 Board Change • Dec 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Director Zhanna Golodryga was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Oct 24
AGCO Corporation Declares Regular Quarterly Dividend, Payable on December 15, 2025 AGCO announced its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 15, 2025, to all stockholders of record as of the close of business November 14, 2025. Duyuru • Oct 16
AGCO Corporation to Report Q3, 2025 Results on Oct 31, 2025 AGCO Corporation announced that they will report Q3, 2025 results on Oct 31, 2025 Duyuru • Aug 12
AGCO Appoints Brian Sorbe as President of PTx, Effective August 25, 2025 AGCO announced the appointment of Brian Sorbe as President of PTx, effective August 25, 2025. With nearly three decades of experience in precision agriculture, global sales and product development, Sorbe brings a wealth of expertise to this pivotal role. Sorbe spent 14 years at Topcon Positioning Systems in key leadership roles, including Senior Vice President and General Manager. At Topcon, he led cross-functional teams across many areas including technology development for mixed fleets, product strategy, marketing and M&A integration, consistently driving farmer-focused solutions to market. Sorbe's career also spans construction and industrial automation, but agriculture has always been at the core. Raised on a farm in Iowa, Sorbe began his precision ag journey at Ag-Chem Equipment in Jackson, Minnesota, now part of AGCO following the 2001 Ag-Chem acquisition. Sorbe will be based in Tremont, Illinois, which is a key PTx site. He holds a Bachelor of Business Administration degree from the Purdue University system. Sorbe's postgraduate work includes certifications in AI & Machine Learning and Agricultural Autonomy & Robotics as well as a Master of Business of Administration program. Duyuru • Jul 31
AGCO Corporation Raises Earnings Guidance for the Full Year 2025 AGCO Corporation raised earnings guidance for the full year 2025. For the year, the company now expects net sales of approximately $9.8 billion. Full-year earnings per share are now targeted between $4.75 and $5.00. Duyuru • Apr 25
AGCO Corporation Announces Regular Quarterly Dividend, Payable on June 16, 2025 AGCO Corporation announced its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on June 16, 2025, to all stockholders of record as of the close of business May 15, 2025. Duyuru • Mar 25
AGCO Corporation, Annual General Meeting, Apr 24, 2025 AGCO Corporation, Annual General Meeting, Apr 24, 2025. Location: agco corporation 4205 river green parkway duluth, georgia 30096, United States Duyuru • Feb 13
AGCO Corporation Appoints Zhanna Golodryga to Its Board of Directors, Effective April 1, 2025 AGCO Corporation announced the election of Zhanna Golodryga to its Board of Directors, effective April 1, 2025. Ms. Golodryga is a proven leader in the information technology field with an extensive background in cybersecurity, digital and business transformation. Ms. Golodryga is Executive Vice President of Emerging Energy and Sustainability for Phillips 66, a leading integrated downstream energy, manufacturing and logistics company. Ms. Golodryga is responsible for driving Energy Transition and Decarbonization across the enterprise. She has held senior roles at Phillips 66 since 2017. In her previous role as the Senior Vice President, Chief Digital & Administrative Officer, Golodryga led the business transformation enabled by digital technology, including machine learning and AI. Prior to joining Phillips 66, Ms. Golodryga served as Chief Information Officer and Senior Vice President for Services at Hess Corporation and Vice President and Chief Information Officer at BHP Billiton Petroleum. Ms. Golodryga currently serves on the Board of Directors of Regions Financial Corporation where she chairs the Technology Committee. Ms. Golodryga is on the board of the Memorial Hermann Foundation. She has a master's degree in mechanical engineering from Kiev Civil Engineering and Construction Institute. Duyuru • Feb 11
Tractors and Farm Equipment Limited Comments on AGCO Corporation Annual Results On February 11, 2025, Tractors and Farm Equipment Limited expressed concerns over AGCO Corporation’s disappointing financial results and governance issues and stated that the Company reported a $354 million goodwill impairment charge related to the PTx Trimble acquisition. In addition, Tractors and Farm Equipment stated that it withdrew its 14a-8 shareholder proposal, believing stronger action is needed to improve Company’s governance, and criticized Company’s strategic direction, poor dealer inventory levels, and lack of transparency regarding the PTx Trimble joint venture. Duyuru • Jan 17
AGCO Announces Quarterly Dividend, Payable on March 14, 2025 AGCO announced its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on March 14, 2025, to all stockholders of record as of the close of business February 14, 2025. Duyuru • Jan 10
AGCO Corporation to Report Q4, 2024 Results on Feb 06, 2025 AGCO Corporation announced that they will report Q4, 2024 results on Feb 06, 2025 Board Change • Dec 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Independent Director Dave Sagehorn was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 11
AGCO Corporation Announces Retirement of Bob Crain as Senior Vice President, Grain & Protein at the End of December 2024 AGCO Corporation announced Bob Crain, Senior Vice President, Grain & Protein will retire at the end of December 2024 after nearly 19 years of dedicated service to AGCO and more than 30 years' experience in the agricultural equipment business. Crain joined AGCO in 2006 as SVP and General Manager, Americas, where he led profit and loss management and the development of business strategies across North and South America. After 15 years in this role, Bob transitioned to oversee the launch of AGCO's global Customer Experience business area. His efforts in this role included the introduction of AGCO's Net Promoter Score and the FarmerCore distribution strategy, a transformative initiative integrating digital and physical elements across the purchasing journey and ownership lifecycle. Most recently, Crain served as SVP and General Manager, Grain & Protein, where he oversaw a strategic review of the business. This review culminated in the divestiture of a majority of the Grain & Protein business to American Industrial Partners in November. His leadership extends beyond AGCO as he currently serves on the Board of the Association of Equipment Manufacturers and previously served as AEM Board Chair. Upcoming Dividend • Nov 11
Upcoming dividend of US$0.29 per share Eligible shareholders must have bought the stock before 15 November 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 51% and the cash payout ratio is 77%. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.5%). Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: US$0.40 (vs US$3.75 in 3Q 2023) Third quarter 2024 results: EPS: US$0.40 (down from US$3.75 in 3Q 2023). Revenue: US$2.60b (down 25% from 3Q 2023). Net income: US$30.0m (down 89% from 3Q 2023). Profit margin: 1.2% (down from 8.1% in 3Q 2023). Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Machinery industry in Germany are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year. Duyuru • Nov 05
AGCO Corporation Revises Earnings Guidance for the Full Year 2024 AGCO Corporation revised earnings guidance for the full year 2024. For the year, net sales are expected to be approximately $12.0 billion, reflecting lower sales volumes. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Independent Director Dave Sagehorn was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Oct 28
Dividend of US$0.29 announced Shareholders will receive a dividend of US$0.29. Ex-date: 15th November 2024 Payment date: 16th December 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 168% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Oct 25
Agco Announces Quarterly Dividend, Payable on December 16, 2024 AGCO announced its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 16, 2024, to all stockholders of record as of the close of business November 15, 2024. Duyuru • Oct 14
AGCO Corporation to Report Q3, 2024 Results on Nov 05, 2024 AGCO Corporation announced that they will report Q3, 2024 results on Nov 05, 2024 Duyuru • Aug 28
AGCO Corporation Introduces its AE50 Fendt 600 Vario® Series Tractor to North America AGCO Corporation introduced its AE50 Fendt® 600 Vario® Series tractor to North America. Offering superior maneuverability and a completely new generation of Fendt's innovative VarioDrive continuously variable transmission (CVT), the naturally superior 600 Vario is an efficient, uncompromising all-arounder, perfect for any task on the farm. The 600 Vario will come in four models (614 Vario, 616 Vario, 618 Vario and 620 Vario), ranging from 149 to 209 rated-engine hp. With its impressive performance in a compact package, the 600 Vario is ideal for small to medium-sized farms, capable of tackling anything from row crop farming to loader work to transportation. Fendt's 600 Vario features the all-new AGCO Power CORE50 4-cylinder, 5-liter engine. Combined with the Fendt iD low-speed concept, the 600 Vario achieves its maximum torque of 950 Nm at a low rpm of between 1,200 and 1,600, providing impressive performance with remarkable fuel efficiency. The Fendt 600 also features innovative technologies that make the Vario series outstanding in the industry, including: The optional VarioGrip automatic tire pressure control system adjusts tire pressure to reduce slippage and maximize ground pressure. The FendtONE operator station enables state-of-the-art smart farming features, bringing machine and agronomic data together in a customizable, updatable technology suite. The Fendt cab features a vertically continuous panoramic window for high levels of all-around visibility. The new generation of Fendt's VarioDrive CVT ensures stress-free power transmission on any surface, precisely regulating power output to each wheel through continuous measurement. Like all Fendt tractors, the Fendt 600 series offers a hydraulic reservoir separate from the transmission to eliminate any cross-contamination. The Fendt 600 Vario will be available for purchase at Fendt dealerships in North America beginning in August 2024. All Fendt tractors are covered by Fendt's industry-leading Gold Star Customer Care Program, which comes standard with a 3-year or 3,000-hour full machine warranty, including all scheduled maintenance and a guaranteed machine loan if repairs take longer than 48 hours. At a Glance: the Fendt® 600 Vario® Tractor: Available in four models (614 Vario, 616 Vario, 618 Vario and 620 Vario) ranging from 149 to 209 rated-engine hp. Includes the newly developed 4-cylinder, 5-liter AGCO Power™ CORE50 engine featuring the Fendt iD™ low-speed concept for maximum torque at low rpms. VarioDrive™, the next generation of Fendt's famous continuously variable transmission (CVT), provides maximum tractive force while increasing ground protection. Optional VarioGrip™ automatic tire pressure control system adjusts tire pressure to reduce slippage and maximize ground pressure, leading to optimal efficiency. The FendtONE™ operator station provides comfortable, customized operation and integrates office and field data for the most efficient operation on the market. Duyuru • Aug 27
AGCO Corporation Announces North American Debut of the Massey Ferguson® 9S Series Tractor AGCO Corporation announced the North American debut of the Massey Ferguson® 9S Series tractor. Designed with the farmer in mind, the MF 9S Series offers better dependability and efficiency to help farmers achieve a lower overall cost of ownership. Massey Ferguson will showcase the MF 9S Series during the 2024 Farm Progress Show in Boone, Iowa, August 27-29. Achieve Better Outcomes - The MF 9S Series is the standard when it comes to efficiency, dependability and field-proven technology. Its high-quality design, along with Massey Ferguson’s commitment to product value, ensures you’ll get into the field on time, ready to meet the optimum planting window. While in the field, farmers have experienced up to a 15% reduction in fuel consumption along with other fluid efficiencies, to help reduce costs and maximize profits. Designed with field-proven technology, including the 8.4-liter AGCO Power™ engine, Dyna-VT™ transmission and Protect-U™ cab design, as seen on previous Massey Ferguson S Series models, the MF 9S Series delivers maximum power and efficiency for demanding implements. The 90 GPM ECO pump will allow farmers to deliver the power needed to operate the technology features on the implements they need without taking that power away from the operation of the tractor itself. Each farm and every field are different, and the ECO pump enables farmers to adapt their operations. The right ballast reduces unneeded compaction while providing high levels of traction for heavy draft work, ensuring the maximum amount of power for the operation. Additionally, MF Care Pro service comes standard on every tractor and is partnered with extended warranty options, guaranteed optimal performance, and reduced costs and servicing time. Buy Or Sell Opportunity • Aug 26
Now 23% overvalued Over the last 90 days, the stock has fallen 18% to €80.72. The fair value is estimated to be €65.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 6.5%. Revenue is forecast to decline by 8.6% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Duyuru • Aug 24
AGCO Corporation to Launch New Products and Display Farmer-Focused Solutions At 2024 Farm Progress Show AGCO Corporation will launch new products and highlight its many farmer-focused solutions at the 2024 Farm Progress Show in Boone, Iowa, on August 27-29. Alongside new tractors from its Fendt®? and Massey Ferguson®? brands, AGCO's exhibit will feature displays from PTx Trimble™?, Precision Planting®?, FarmerCore™? and a host of entertaining events throughout the show. AGCO and its brands will kick off the 2024 Farm Progress Show with an exclusive preview for the media on Tuesday, August 27, from 7- 8 a.m. in booth 1002. Journalists will have the opportunity to get the early scoop on new solutions from AGCO's brands, interview product experts and leaders, climb aboard machinery and get photos and video before attendees enter the show. All media representatives are invited to join the AGCO team for interviews, coffee and breakfast. Fendt's exhibit will also showcase new Farmer-First technology such as ErgoSteer, a joystick steering retrofit solution for the Fendt 500 through 1000 Vario wheel tractors; AutoDock™?, the first automatic system for connecting and disconnecting headers from the IDEAL®? combine; Fendt's agronomically-advanced Momentum®? planter and the revolutionary Rogator®? 900 Series sprayer. Attendees will also learn more about the Fendt Lodge, the brand's new home in North America, and gain firsthand experience with simulators in the fully updated Fendt Mobile Experience Center. Massey Ferguson Launches the 9S Series Tractor: Massey Ferguson will introduce attendees to the 9S Series tractor, which allows farmers to achieve a better cost per hour for a lower total cost of ownership. The MF 9S Series delivers fluid efficiencies and high-level cab comfort. It boasts intuitive, field-proven technology that reduces labor costs and provides superior dependability that allows farmers to complete fieldwork in the optimum window. Attendees will learn about the tools and approaches that put dealers in closer proximity - onsite and online - to farmers and how FarmerCore is implemented in close collaboration with AGCO's global dealer network. A fully equipped, mobile on-farm service truck will be onsite to showcase the many tools and resources that can benefit farmers. Precision Planting is a leading source of agriculture technologies for every season, creating retrofit products that upgrade a farmer's existing planter, air seeder, drill, sprayer, liquid fertilizer applicator, dry fertilizer applicator and combine to maximize the performance of their equipment. Featured in booth #1234 will be Radicle Agronomics™?, a suite of soil sampling and analysis tools that are the first industry upgrades to this process in nearly a century;ymphonyNozzle™?, a sprayer upgrade that offers independent control of rate and pressure; and the CornerStone™? Planting System, a complete planter upgrade to an existing planter bar. See a selection of products across the growing seasons under one roof. While at the demo, growers can learn about beta testing opportunities for the OutRun retrofit kit, prior to wider availability in 2025. GSI®? Showcases Smart Grain Management and New Dryer: GSI's exhibit will feature Smart Grain Management tools GrainVue™? and GSI Connect™?, VersaLoop™?, and the brand's conditioning portfolio - including the new mixed flow dryer. GrainVue allows farmers to eliminate the guesswork and leverage the latest digital cable system. Upcoming Dividend • Aug 08
Upcoming dividend of US$0.29 per share Eligible shareholders must have bought the stock before 15 August 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.7%). Duyuru • Aug 06
Tractors and Farm Equipment Limited Engages with AGCO Corporation On August 6, 2024, Tractors and Farm Equipment Limited stated that it believes it is high time that the AGCO Corporation take measures to improve its operational performance, shareholder returns, and corporate governance, including by separating the roles of Chairman and CEO, adopting additional shareholder-friendly governance structures, and undertaking a meaningful Board refresh to restore a level of oversight and accountability to ensure that the Board is truly independent from management and is acting in the best interest of shareholders. In addition, Tractors and Farm Equipment Limited stated that it actively exploring all of their options, including a consent solicitation to remove and replace certain members of the Board and/or litigation, to protect not only their rights and investment as the Company’s shareholder, but the rights and investments of all of the Company’s shareholders, and also to ensure that the Board and its leadership are held accountable. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €77.90, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Machinery industry in Germany. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €68.48 per share. Duyuru • Aug 01
AGCO Corporation Revises Earnings Guidance for the Year 2024 AGCO Corporation revised earnings guidance for the year 2024. For the year, the company net sales for 2024, including the positive impact of PTx Trimble, are expected to be approximately $12.5 billion, reflecting lower sales volumes and adverse foreign currency translation. Reported Earnings • Jul 31
Second quarter 2024 earnings released: US$4.92 loss per share (vs US$4.26 profit in 2Q 2023) Second quarter 2024 results: US$4.92 loss per share (down from US$4.26 profit in 2Q 2023). Revenue: US$3.25b (down 15% from 2Q 2023). Net loss: US$367.1m (down 215% from profit in 2Q 2023). Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Machinery industry in Germany are expected to grow by 4.5%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Jul 27
AIP, LLC entered into a definitive agreement to acquire an unknown majority stake in Grain & Protein division of AGCO Corporation(NYSE:AGCO) for transaction valued at $700 million. AIP, LLC entered into a definitive agreement to acquire an unknown majority stake in Grain & Protein division of AGCO Corporation(NYSE:AGCO) for transaction valued at $700 million on July 25, 2024. The transaction reflects TEV/EBITDA multiple of 8.3x. For the year ending December 31, 2023 AGCO’s Grain & Protein division generates annual revenue of approximately $1 billion. AGCO expects to use the net proceeds from the transaction consistent with its stated capital allocation priorities, including debt repayment, disciplined investment in technology and organic growth initiatives and return of capital to shareholders. Morgan Stanley & Co. LLC, Rabo Securities USA, Inc. acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor for AGCO Corporation. Santander US Capital Markets LLC acted as financial advisor, its affiliate is leading the fully committed debt financing and Sidley Austin LLP acted as legal advisor for AIP, LLC. AIP, LLC will pay a termination fee of $49 million to AGCO Corporation (NYSE:AGCO). The transaction is anticipated to close before the end of the year, subject to regulatory approvals and other customary closing conditions. Declared Dividend • Jul 15
Dividend of US$0.29 announced Shareholders will receive a dividend of US$0.29. Ex-date: 15th August 2024 Payment date: 16th September 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 27% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. Duyuru • Jul 12
AGCO Corporation Announces Quarterly Dividend, Payable on September 16, 2024 AGCO Corporation announced that its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on September 16, 2024, to all stockholders of record as of the close of business August 15, 2024. Duyuru • Jul 11
AGCO Corporation to Report Q2, 2024 Results on Jul 30, 2024 AGCO Corporation announced that they will report Q2, 2024 results on Jul 30, 2024 Buy Or Sell Opportunity • May 16
Now 21% undervalued Over the last 90 days, the stock has risen 3.1% to €105. The fair value is estimated to be €133, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to decline by 0.03% per annum. Earnings are also forecast to decline by 5.0% per annum over the same time period. Declared Dividend • May 15
Dividend of US$2.50 announced Shareholders will receive a dividend of US$2.50. Ex-date: 17th May 2024 Payment date: 20th June 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 9.8% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. Duyuru • May 03
AGCO Corporation Provides Earnings Guidance for the Year 2024 AGCO Corporation provided earnings guidance for the year 2024. For the year, the company expects net sales for 2024, including the positive impact of PTx Trimble, are expected to be approximately $13.5 billion, reflecting lower sales volumes, adverse foreign currency translation and modest positive pricing. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$2.25 (vs US$3.11 in 1Q 2023) First quarter 2024 results: EPS: US$2.25 (down from US$3.11 in 1Q 2023). Revenue: US$2.93b (down 12% from 1Q 2023). Net income: US$168.0m (down 28% from 1Q 2023). Profit margin: 5.7% (down from 7.0% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 29
Dividend of US$0.29 announced Shareholders will receive a dividend of US$0.29. Ex-date: 14th May 2024 Payment date: 14th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (7% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 12% over the next 3 years. However, it would need to fall by 92% to increase the payout ratio to a potentially unsustainable range. Duyuru • Apr 28
AGCO Corporation Declares Special Variable Dividend, Payable on June 20, 2024 AGCO Corporation announced that its board of directors declared a special variable dividend in the amount of $2.50 per share. The special variable dividend will be payable on June 20, 2024, to shareholders of record at the close of business on May 20, 2024. Duyuru • Apr 27
AGCO Corporation Declares Regular Quarterly Dividend, Payable on June 14, 2024 AGCO Corporation announced that its board of directors declared a regular quarterly dividend of $0.29 per outstanding share. The dividend will be made on June 14, 2024, to all stockholders of record as of the close of business on May 15, 2024. Duyuru • Apr 13
AGCO Corporation to Report Q1, 2024 Results on May 02, 2024 AGCO Corporation announced that they will report Q1, 2024 results on May 02, 2024 Duyuru • Apr 09
AGCO Corporation Launches PTx, A Precision Ag Portfolio to Accelerate Technology Transformation AGCO Corporation announced the launch of PTx, a new brand representing its precision ag portfolio. PTx combines precision ag technologies from the cornerstones of AGCO's tech stack: Precision Planting and its newest joint venture (JV), PTx Trimble. The strategic alignment of these brands will facilitate the rapid growth of AGCO's technology transformation and will support the future development and distribution of next-generation ag technologies for farmers and original equipment manufacturers (OEMs). PTx will serve farmers around the world through three go-to-market approaches. Specialized precision ag dealers will help farmers retrofit almost any make or vintage of equipment they already own with the latest technologies. PTx will also expand its relationships with more than 100 OEM partners that can integrate products from the PTx portfolio directly at the factory. Similarly, new machines from AGCO's leading brands – Fendt, Massey Ferguson and Valtra – will also offer factory-fit technology from the PTx portfolio. The name PTx is rooted in AGCO's heritage: precision agriculture (P) and advanced technologies (T) that multiply (x) the impact it creates for farmers through seamless, intelligent and farmer-centric technologies. The symbol represents the precise rows and fields in agriculture and tells a story of global connection. To present a unified offering to the market, Precision Planting's visual identity is evolving as part of the new PTx brand portfolio while retaining the brand's well-known corn plant as a nod to its rich heritage. The PTx Trimble visual identity mirrors that of the PTx leading brand. AGCO completed the JV transaction with Trimble on April 1, 2024, to form PTx Trimble. Andrew Sunderman has been named General Manager of PTx Trimble. Sunderman's 12 years of experience in various global AGCO roles, including most recently leading the JV integration team, position him well to run this business. Duyuru • Mar 26
AGCO Corporation, Annual General Meeting, Apr 25, 2024 AGCO Corporation, Annual General Meeting, Apr 25, 2024, at 09:00 US Eastern Standard Time. Location: AGCO Corporation, 4205 River Green Parkway, Duluth, Georgia 30096 Duluth Georgia United States Agenda: To elect ten directors to the Board of Directors for terms expiring at the Annual Meeting in 2025; to consider a non-binding advisory resolution to approve the compensation of the Company’s named executive officers (“NEOs”); to ratify the appointment of KPMG LLP as the Company’s independent registered public accounting firm for 2024; and to transact any other business that may properly be brought before the meeting. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$15.66 (vs US$11.93 in FY 2022) Full year 2023 results: EPS: US$15.66 (up from US$11.93 in FY 2022). Revenue: US$14.4b (up 14% from FY 2022). Net income: US$1.17b (up 32% from FY 2022). Profit margin: 8.1% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.9% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to €98.40. The fair value is estimated to be €124, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to decline by 0.5% per annum. Earnings are also forecast to decline by 6.0% per annum over the same time period. Buy Or Sell Opportunity • Feb 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to €102. The fair value is estimated to be €128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to decline by 0.5% per annum. Earnings are also forecast to decline by 6.0% per annum over the same time period. Duyuru • Feb 07
AGCO Corporation Reports Impairment Charges for the Fourth Quarter Ended December 31, 2023 AGCO Corporation reported impairment charges for the fourth quarter ended December 31, 2023. For the quarter, the company reported impairment charges of approximately $4.1 million. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: US$15.66 (vs US$11.93 in FY 2022) Full year 2023 results: EPS: US$15.66 (up from US$11.93 in FY 2022). Revenue: US$14.4b (up 14% from FY 2022). Net income: US$1.17b (up 32% from FY 2022). Profit margin: 8.1% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Duyuru • Feb 07
AGCO Corporation Announces to Exhibit New Equipment at 2024 World Ag Expo AGCO Corporation announced that it will host an expansive exhibit at the 2024 World Ag Expo in Tulare, California, on February 13-15. Headlining AGCO’s exhibit will be the North American debut of the Massey Ferguson® 3 Series Specialty tractors and a full lineup of Fendt® tractors sporting the brand’s technology and design. The Massey Ferguson 3 Series Specialty tractor will be unveiled to North American growers in the AGCO booth. The MF 3 Series is a compact yet powerful tractor designed for use in orchards and vineyards to help growers maximize efficiency. The tractor provides operators with superior visibility and an ergonomic cab layout for greater comfort and ease of use. Initial MF 3 Series offerings for the United States and Canada will include a combination of dimensions, horsepower settings and operator stations that will suit a wide variety of settings and operator requirements. Fendt’s exhibit will feature the new member of its tractor lineup, the 200 Vario Series. The 200 Vario brings all the features Fendt operators know and love to a smaller, more agile machine. With models from 94 to 114 rated horsepower and a wide array of implements, the 200 Vario can be custom-configured for the job and is ideal for operations requiring a high level of maneuverability, including orchards and vineyards. A Wide-Ranging, Farmer-Focused Experience AGCO’s booth will be filled with many other solutions from across Fendt’s and Massey Ferguson’s product lines, including both wheeled and track tractors from Fendt, multiple versions from Massey Ferguson’s new S Series, as well as selections of the brand’s popular compact utility equipment (CUE) line. Massey Ferguson’s acclaimed hay equipment will be well represented with the WR Series windrower and 2200 Series large square baler, as well as an 1800 Series small square baler equipped with the innovative SimplEbale™, a retrofittable electronic monitoring and control system. Fendt’s intriguing Mobile Experience Center will feature simulators for IDEAL combines and showcase the Fendt Farmer Office for offboard and onboard technology. Upcoming Dividend • Feb 07
Upcoming dividend of US$0.29 per share at 5.0% yield Eligible shareholders must have bought the stock before 14 February 2024. Payment date: 15 March 2024. Trailing yield: 5.0%. Lower than top quartile of German dividend payers (5.2%). Higher than average of industry peers (2.8%). Duyuru • Feb 06
AGCO Corporation Provides Earnings Guidance for the Year 2023 AGCO Corporation provided earnings guidance for the year 2023. For the period, the company expects net sales to be approximately $13.6 billion, reflecting lower sales volumes, modest positive pricing as well as favorable foreign currency translation. Based on these assumptions, 2024 earnings per share are targeted at approximately $13.15. Duyuru • Jan 30
AGCO Launches FarmerCore to Bring the Dealer Experience Directly to the Farm AGCO announced the launch of FarmerCore, a transformative global initiative to deliver a next-generation farmer and dealer experience. The launch of the new end-to-end distribution model is a significant milestone in advancing AGCO's Farmer-First strategy and solidifying its commitment to helping farmers across the globe become more profitable, productive and sustainable. FarmerCore revolutionizes sales and service using tools that put dealers in closer proximity - onsite and online - to farmers. From product research to in-season uptime, the program develops and integrates digital and physical elements across the purchasing journey and product ownership lifecycle to create a leading on-farm offering. FarmerCore is built on three pillars: the on-farm mindset, smart network coverage and digital engagement. The on-farm mindset positions dealers to meet customers' needs at every stage of the ownership journey. Smart network coverage de-emphasizes the one-size-fits all outlet approach, moving toward a hub-and-spoke model that adds "light" retail outlets, service centers and parts-only locations. Digital engagement gives farmers 24/7 online access to sales and support, including online parts purchasing, dealer digital storefronts, online configurators and more. With FarmerCore, mobile assets bring buying and servicing to the farm. While dealership locations will continue to anchor farmer support in local communities, mobile and digital channels allow farmers to engage on their terms. FarmerCore will be implemented in close partnership with AGCO's global dealer network and will become a leader in ag machinery support, across every aspect of the ownership lifecycle. The program launches globally this year in select North and South America dealer organizations, with continued expansion throughout 2024. Duyuru • Jan 20
AGCO Corporation to Report Q4, 2023 Results on Feb 06, 2024 AGCO Corporation announced that they will report Q4, 2023 results on Feb 06, 2024 Duyuru • Jan 18
AGCO Declares Regular Quarterly Dividend, Payable on March 15, 2024 AGCO announced that its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on March 15, 2024, to all stockholders of record as of the close of business February 15, 2024. Duyuru • Jan 05
AGCO Corporation Names Viren Shah as Chief Digital Information Officer AGCO Corporation announced the addition of a Chief Digital Information Officer (CDIO) to its senior leadership team, reporting directly to Chief Executive Officer Eric Hansotia. Viren Shah will become an AGCO Senior Vice President and CDIO effective January 16, 2024. He will lead the development, design and implementation of the company’s digital vision and strategy, including IT, and data analytics. Mr. Shah joins AGCO with more than 20 years’ experience in IT, supply chain and digital roles. He most recently served as Chief Digital Officer of GE Appliances since 2018. Prior to that role, he held global leadership positions including Chief Information Officer (CIO) at Masco Cabinetry, CIO at Specialty Fashion Group and various positions at Wal-Mart. Upcoming Dividend • Nov 07
Upcoming dividend of US$0.29 per share at 5.2% yield Eligible shareholders must have bought the stock before 14 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 6.9% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (3.0%). Duyuru • Nov 01
AGCO Corporation Raises Earnings Guidance for the Year 2023 AGCO Corporation raised earnings guidance for the year 2023. For the period, the company expects net sales to be approximately $14.7 billion, reflecting improved sales volumes and pricing. Based on these assumptions, 2023 reported earnings per share are targeted at approximately $15.08. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: US$3.75 (vs US$3.19 in 3Q 2022) Third quarter 2023 results: EPS: US$3.75 (up from US$3.19 in 3Q 2022). Revenue: US$3.46b (up 11% from 3Q 2022). Net income: US$280.6m (up 18% from 3Q 2022). Profit margin: 8.1% (up from 7.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 27
AGCO Announces Quarterly Dividend, Payable on December 15, 2023 AGCO announced that its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 15, 2023, to all stockholders of record as of the close of business November 15, 2023. Duyuru • Oct 18
AGCO Corporation to Report Q3, 2023 Results on Oct 31, 2023 AGCO Corporation announced that they will report Q3, 2023 results on Oct 31, 2023 Duyuru • Sep 20
AGCO Corporation Announces Lara Long, Chief Accounting Officer Commences Leave of Absence On September 14, 2023, Lara Long commenced a leave of absence. At that time, Damon Audia assumed the responsibilities of Chief Accounting Officer of AGCO Corporation. Mr. Audia, age 52, has served as Senior Vice President, Chief Financial Officer of the Company since July 2022. He previously served as CFO of Kennametal Inc., an industrial technology leader specializing in tooling and wear-resistant solutions. Prior to that Mr. Audia served as Senior Vice President and CFO at Carpenter Technology Corporation, a global manufacturer of premium specialty alloys. Mr. Audia will not receive any additional compensation in connection with assuming the additional role. Duyuru • Aug 30
AGCO’s Fendt Expands Momentum® Planter Line with 30-Foot Model AGCO Corporation announced the introduction of a new 30-foot model for its Fendt Momentum planter line, making its agronomically-advanced capabilities available to a wider range of farming operations. AGCO’s Fendt introduced a 30-foot model of its award-winning Momentum planter at the Farm Progress Show onAugust 29, 2023. The new smaller version makes Momentum’s agronomically advanced capabilities available to awider range of farming operations. With the addition of the 30-foot model, Fendt’s AE50 award-winningMomentum planter is now offered in 30- to60-foot machines with liquid and dry fertilizer systems, and in 12- and 23-row configurations with 30- and15-inch spacing, respectively. Duyuru • Aug 25
AGCO Corporation Introduces New Massey Ferguson Launches MF 500R Series Sprayer AGCO Corporation introduced the new Massey Ferguson®? 500R Series Sprayer, a reliable, user-friendly solution for effective applications and increased independence. Building on more than 60 years of experience from across the AGCO family, the 740-gallon, 212 HP MF 525R and860-gallon, 235 HP MF 530R Series sprayers come standard with an advanced chemical distribution system, flexible chassis, maintenance-friendly design elements and more to deliver a cost-effective spraying solution. Massey Ferguson will display the MF 500R Series Sprayer during the 2023 Farm Progress Show and is currently accepting orders for 2024 through select dealers. Massey Ferguson introduced the MF 500R Series Spray With Confidence: The Massey Ferguson 500R Series Sprayer is user-friendly and easy to operate. It provides the perfect balance of technology with an intuitive tractor-cab layout, allowing independent farmers to take control of their spraying applications with confidence. A standard LiquidLogic®? system puts the MF 500R Series Sprays ahead of the competition in terms of efficiency and accuracy. The system offers 50-second priming with no wasted chemicals, reducing input costs and allowing for better stewardship of the land. An advanced recirculation system moves product through the tank and everyinch of the boom for a constant rate and uniform mixture from start to finish. Control over 36 individual boom sections, six times more than other sprayers on the market, provides maximum precision with minimal waste for better ROI. Additionally, the LiquidLogic system cleans 75% faster and includes boom recovery and boom cleanout (BCO) to take advantage of every minute in the field. The MF 500R Series Sprayer also features a tractor-style cab, which makes it easy for independent farmers to jump behind the wheel and get the job done. The roomy, ergonomic cab layout carries over from Massey Ferguson's S Series tractor lineup for maximum comfort with reduced noise and vibration. Nearly 360-degree visibility makes it easy for operators to keep a close eye on the tires and booms. Duyuru • Aug 19
AGCO Corporation Announces the Launch of A New Round Baler Series AGCO Corporation announced the launch of a new round baler series. The Massey Ferguson 1 Series round baler delivers efficiency, quality, and operator comfort with straightforward, proven technology and rugged dependability. The series was specially designed to perform in challenging dry hay, stover, and residue applications. Massey Ferguson will display the new baler at this year's Farm Progress Show in Decatur, Illinois, and is currently accepting preorders. The Massey Ferguson 1 Series round baler integrates proven technology from decades of innovation to make the baling process more efficient and more comfortable than ever before. It is available in two variable-chamber models, the RB.146, which produces up to 4-by-6-foot round bales, and the RB.156, for up to 5-by-6-foot bales. The 1 Series comes standard with a camless pickup for increased efficiency and comfort. This reduces power requirements to just 80 hp for the RB.146 and 100 hp for the larger RB.156. Additionally, without a cam track, the 1 Series round baler minimizes maintenance and noise. With the 1 Series round baler, hay producers can be loaded in minutes with minimal physical requirements. A front-mounted net binding system allows for tighter, faster binding without the visibility tradeoff of other models, providing the best of both worlds for North American farmers. The baler features a duckbill-style net system. This mechanically moves net from the roll to the bale, eliminating environmental obstructions, while the net braking design allows for easy one-handed adjustment without tools, ensuring optimum net tension. An innovative net roll loading rack pivots out at approximately tailgate height, minimizing lifting and positioning. An optional hydraulically operated drop floor provides further comfort, allowing operators to clear obstructions without leaving the tractor. Durability for Extreme Haying Conditions: Engineers designed the 1 Series round baler to deliver dependable, long-lasting service even in the challenging conditions of North American dry hay production. Heavy-duty components ensure the new baler will stand up to the harshest conditions, year after year, for fast ROI and a better total cost of ownership. This includes: Triple-lip sealed bearings to keep out dust and debris. Heavy-wall aggressive rollers with welded cleats for long service life. Debris shields and cast roller flares prevent material buildup, protecting bearings. Additionally, the 1 Series uses high-quality systems proven to reduce unnecessary downtime. For example, the maintenance-free elastomeric tension and toothless idlers minimize wear on diamond roller chains for maximum uptime. Keeping with Massey Ferguson’s focus on straightforward and dependable equipment, moving parts are minimized throughout the baler for low maintenance and a operator-friendly experience. The baler employs a vertical chamber that uses gravity to increase bale density without additional parts or power. It also features a positively engaging undershot rotor for increased efficiency. State-of-the-art, cross-platform commonality allows for easy integration into any operation. This includes tractor implement management (TIM) capabilities, which allow the baler to stop the tractor and completely cycle the bale without operator input. Upcoming Dividend • Aug 07
Upcoming dividend of US$0.29 per share at 4.8% yield Eligible shareholders must have bought the stock before 14 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 6.8% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.7%). Duyuru • Jul 29
AGCO Corporation Raises Earnings Guidance for the Year 2023 AGCO Corporation raised earnings guidance for the year 2023. For the period, the company expects net sales to be approximately $14.7 billion, reflecting improved sales volumes and pricing. Based on these assumptions, 2023 reported earnings per share are targeted at approximately $14.82. New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. Minor Risk High level of debt (43% net debt to equity). Duyuru • Jul 28
AGCO Provides Earnings Guidance for the Year 2023 AGCO provided earnings guidance for the year 2023. The company’s net sales for 2023 are expected to be approximately $14.7 billion, reflecting improved sales volumes and pricing. Based on these assumptions, 2023 reported earnings per share are targeted at approximately $14.82. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$4.26 (vs US$2.38 in 2Q 2022) Second quarter 2023 results: EPS: US$4.26 (up from US$2.38 in 2Q 2022). Revenue: US$3.82b (up 30% from 2Q 2022). Net income: US$319.2m (up 80% from 2Q 2022). Profit margin: 8.4% (up from 6.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 18
AGCO Corporation to Report Q2, 2023 Results on Jul 27, 2023 AGCO Corporation announced that they will report Q2, 2023 results on Jul 27, 2023 Duyuru • Jul 13
AGCO Corporation Declares Regular Quarterly Dividend, Payable on September 15, 2023 AGCO Corporation announced that its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on September 15, 2023 to all stockholders of record as of the close of business August 15, 2023. Buying Opportunity • Jun 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €136, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 49%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings is also forecast to grow by 0.7% per annum over the same time period. Buying Opportunity • May 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.2%. The fair value is estimated to be €140, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 49%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 3.2% per annum over the same time period. Reported Earnings • May 02
First quarter 2023 earnings released: EPS: US$3.11 (vs US$2.04 in 1Q 2022) First quarter 2023 results: EPS: US$3.11 (up from US$2.04 in 1Q 2022). Revenue: US$3.33b (up 24% from 1Q 2022). Net income: US$232.6m (up 53% from 1Q 2022). Profit margin: 7.0% (up from 5.7% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €138, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 57%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings is also forecast to grow by 2.2% per annum over the same time period. Recent Insider Transactions • Feb 13
Insider recently sold €1.6m worth of stock On the 10th of February, Robert Crain sold around 13k shares on-market at roughly €124 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.8m more than they bought in the last 12 months. Duyuru • Feb 08
AGCO Corporation Reiterates Earnings Guidance for the Year 2023 AGCO Corporation reiterated earnings guidance for the year 2023. For the period, the company net sales for 2023 are expected to be approximately $14.0 billion reflecting improved sales volumes and pricing partially offset by negative foreign currency translation. Gross and operating margins are projected to improve from 2022 levels, reflecting the impact of higher sales and production volumes as well as pricing to offset cost inflation. These improvements are expected to fund increases in engineering and other technology investments to support AGCO’s precision agriculture and digital initiatives. Based on these assumptions, 2023 earnings per share are targeted at approximately $13.50. 
