DULUTH, Ga. — AGCO, a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.4 billion for the second quarter of 2019, a decrease of approximately 4.5% compared to the second quarter of 2018. Excluding unfavorable currency translation impacts of approximately 4.6%, net sales in the second quarter of 2019 increased 0.1% compared to the second quarter of 2018. 

North American net sales during the period rose 3.1% and were up during the first 6 months of the year by 1.1%.

To review the first quarter results, click here.

Overall, net sales for the first 6 months of 2019 were approximately $4.4 billion, a decrease of approximately 2.8% compared to the same period in 2018. Excluding unfavorable currency translation impacts of approximately 5.7%, net sales for the first 6 months of 2019 increased approximately 2.9% compared to the same period in 2018. 

Financial highlights during the second quarter 2019 vs. the same period in 2018 included:

• Reported regional sales results: North America 3.1%, Europe/Middle East (“EME”) (5.7)%, South America (15.4)%, Asia/Pacific/Africa (“APA”) (6.7)% 
• Constant currency regional sales results excluding the impact of currency: North America 3.6%, EME 0.2%, South America (9.7)%, APA (0.8)% 
• Operating margin improvement of over 160 basis points vs. second quarter of 2018 
• Regional operating margin performance: North America 8.3%, EME 14.3%, South America (3.8)%, APA 4.3% 

“Our second quarter results were highlighted by margin expansion across all regions and significant growth in earnings per share,” stated Martin Richenhagen, AGCO’s chairman, president and…