AGCO said it released results for the third quarter ended Sept. 30, 2026. The material available here describes the adjustments the company uses in presenting certain non-GAAP measures, but does not include the quarter’s reported sales, earnings, per-share results or outlook. Those figures therefore cannot be assessed from this information.
The adjustments matter because they affect how AGCO’s “adjusted” results compare with its GAAP results and with the prior-year period.
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Adjusted earnings exclude several types of costs. AGCO removes restructuring and business-optimization expenses, amortization of intangible assets acquired with PTx Trimble, and impairment charges. The company says restructuring costs recur but vary in size and timing; it views the adjusted measures as a way to show the performance of its core operations.
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The 2026 comparison also includes divestiture and tax items. For the first nine months of 2026, AGCO excluded costs tied to the sale of most of its Grain & Protein business and a foreign-currency translation release related to that divestiture. It also excluded a discrete tax expense from a legal-entity reorganization in the third quarter and first nine months, as well as tax items tied to a refund received after a favorable resolution under Brazil’s “Litigation Zero” tax amnesty program.
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The prior-year comparison had different one-off items. In the third quarter and first nine months of 2025, AGCO excluded costs tied to forming the PTx Trimble joint venture and selling most of Grain & Protein. The nine-month period also included a loss related to final working-capital and other adjustments on the Grain & Protein sale. AGCO excluded a gain from selling its stake in Tractors and Farm Equipment Limited, or TAFE, and a discrete tax benefit from a legal-entity reorganization.
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Currency-adjusted sales are another measure. AGCO also presents sales excluding the effects of currency translation, which it says helps explain changes between periods.
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Free cash flow is a management measure. AGCO defines it as cash from operating activities less purchases of property, plant and equipment, and says management uses free cash flow and free cash flow conversion to assess cash generation.
The adjustments show that AGCO’s adjusted figures are intended to strip out acquisition-related amortization, restructuring and selected transaction, divestiture and tax effects. But without the actual results and reconciliations, the size of those adjustments—and how they changed the quarter’s reported performance—cannot be determined here.