Filing Flows › Agco (AGCO) › Q2 2025
Agco (AGCO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Agco (AGCO) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), -19% from a year earlier and +29% from the quarter before. Operating margin was 6.2%, net earnings $314M (11.9% of revenue).
Agco, Q2 2025: revenue $2.6B (-19% year over year), operating margin 6.2%, net earnings $314M, operating cash flow $366M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +29% | -19% |
| Gross profit | $659M | +27% | -21% |
| Operating profit | $164M | +232% | — |
| Net earnings | $314M | 36× | — |
| Operating cash flow | $366M | — | +55% |
| Free cash flow | $324M | — | +135% |
What changed
Revenue was $2.6B in Q2 2025, down 19% year over year and up 29% from the previous quarter. Tractors was the largest line at 64% of revenue. Grain storage and protein production systems lost $0.30B year over year (down 100%), 48% of the total change.
Gross margin was 25.0%, down 0.8 points from a year earlier. Operating profit was $0.16B, a 6.2% margin (up 13.7 points year over year). Operating expenses fell 54% while revenue fell 19%. Net earnings were $0.31B. The tax line was a benefit of $0.21B on pre-tax earnings of $0.11B.
Operating cash flow was $0.37B (up 55% year over year), 116% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.04B. Capital expenditures of $0.04B left free cash flow of $0.32B.
Questions
What was Agco's revenue in the second quarter 2025?
Agco (AGCO) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), -19% from a year earlier and +29% from the quarter before.
Was Agco profitable in the second quarter 2025?
Operating profit was $164M (6.2% of revenue) and net earnings $314M.
Source: Agco 10-Q on SEC EDGAR.