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MAGCO Your Agriculture Company NEWS RELEASE For Immediate Release Thursday , July 29 , 2021 Exhibit 99.1 CONTACT : Greg Peterson Vice President , Investor Relations 770-232-8229 greg.peterson@agcocorp.com AGCO REPORTS SECOND QUARTER RESULTS ● DULUTH , GA - July 29 - AGCO , Your Agriculture Company ( NYSE : AGCO ) , a worldwide manufacturer and distributor of agricultural equipment and solutions , reported its results for the second quarter ended June 30 , 2021. Net sales for the second quarter were approximately $ 2.9 billion , an increase of approximately 43.5 % compared to the second quarter of 2020. Reported net income was $ 3.73 per share for the second quarter of 2021 , and adjusted net income ) , which excludes restructuring expenses and the reversal of a valuation allowance previously established against the Company's deferred tax assets in the United States , was $ 2.88 per share . These results compare to reported net income of $ 0.93 per share , and adjusted net income ( 3 ) , excluding restructuring expenses and a non - cash impairment charge , of $ 1.11 per share for the second quarter of 2020. Excluding favorable currency translation impacts of approximately 8.9 % , net sales in the second quarter of 2021 increased approximately 34.6 % compared to the second quarter of 2020 . Net sales for the first six months of 2021 were approximately $ 5.3 billion , an increase of approximately 33.6 % compared to the same period in 2020. Excluding favorable currency translation impacts of approximately 6.3 % , net sales for the first six months of 2021 increased approximately 27.3 % compared to the same period in 2020. For the first six months of 2021 , reported net income was $ 5.71 per share , and adjusted net income ( ³ ) , excluding restructuring expenses and the aforementioned reversal of a valuation allowance was $ 4.89 per share . These results compare to reported net income of $ 1.78 per share , and adjusted net income ) , excluding restructuring expenses and a non - cash impairment charge , of $ 1.97 per share for the first six months of 2020 . Highlights Reported regional sales results ( ¹ ) : Europe / Middle East ( " EME ” ) + 45.4 % , North America + 32.2 % , South America + 55.9 % , Asia / Pacific / Africa ( " APA " ) + 56.7 % Constant currency regional sales results ( ¹2 ) ( ³ ) : EME + 33.7 % , North America + 28.9 % , South America + 53.1 % , APA + 40.3 % Regional operating margin performance : EME 12.3 % , North America 14.1 % , South America 8.3 % , APA 11.5 % Raised full - year outlook for net sales and net income per share ( 1 ) As compared to second quarter 2020 . Excludes currency translation impact . ( 3 ) See reconciliation of Non - GAAP measures in appendix . " Our second quarter results were highlighted by strong margin performance across all regions resulting in the achievement of record earnings per share , " stated Eric Hansotia , AGCO's Chairman , President and Chief Executive Officer . " Focused execution and proactive pricing actions by the AGCO team mitigated the impact of the difficult supply chain environment , which was compounded by escalating material cost inflation . Our second quarter sales and production were up significantly from the second quarter of last year when extended COVID - related shutdowns in both Europe and South America interrupted our operations . Favorable farm economics are supporting increases in replacement demand and market response to our technology - focused products remains extremely positive . In particular , strong growth in Fendt high - horsepower tractors , Precision Planting products and our global parts