Page 1

MAGCO Your Agriculture Company NEWS RELEASE For Immediate Release Thursday , October 28 , 2021 Exhibit 99.1 CONTACT : Greg Peterson Vice President , Investor Relations 770-232-8229 greg.peterson@agcocorp.com AGCO REPORTS THIRD QUARTER RESULTS ● DULUTH , GA - October 28 - AGCO , Your Agriculture Company ( NYSE : AGCO ) , a worldwide manufacturer and distributor of agricultural equipment and solutions , reported its results for the third quarter ended September 30 , 2021. Net sales for the third quarter were approximately $ 2.7 billion , an increase of approximately 9.1 % compared to the third quarter of 2020. Excluding favorable currency translation impacts of approximately 1.6 % , net sales in the third quarter of 2021 increased approximately 7.5 % compared to the third quarter of 2020 . Reported net income was $ 2.40 per share for the third quarter of 2021 , and adjusted net income ) , which excludes restructuring expenses , was $ 2.41 per share . These results compare to reported and adjusted net income of $ 2.09 per share for the third quarter of 2020 . Net sales for the first nine months of 2021 were approximately $ 8.0 billion , an increase of approximately 24.1 % compared to the same period in 2020. Excluding favorable currency translation impacts of approximately 4.5 % , net sales for the first nine months of 2021 increased approximately 19.6 % compared to the same period in 2020. For the first nine months of 2021 , reported net income was $ 8.11 per share , and adjusted net income ( ³ ) , excluding restructuring expenses and the reversal of a valuation allowance previously established against the Company's deferred tax assets in the United States , was $ 7.30 per share . These results compare to reported net income of $ 3.86 per share , and adjusted net income ) , excluding a non - cash impairment charge and restructuring expenses , of $ 4.06 per share for the first nine months of 2020 . Highlights Reported regional sales results : Europe / Middle East ( “ EME " ) + 4.0 % , North America + 9.7 % , South America + 39.9 % , Asia / Pacific / Africa ( " APA " ) + 2.2 % Constant currency regional sales results ( ¹ ) ( 2 ) ( 3 ) : EME + 3.1 % , North America + 8.5 % , South America + 36.6 % , APA ( 2.1 ) % Regional operating margin performance : EME 13.1 % , North America 5.6 % , South America 11.6 % , APA 11.9 % Revised full - year outlook for net sales and net income per share due to supply chain disruptions ( 1 ) As compared to third quarter 2020 . ( 2 ) Excludes currency translation impact . ( 3 ) See reconciliation of Non - GAAP measures in appendix . " Strong operational execution and robust end - market demand produced higher sales , earnings growth and margin expansion during the third quarter , " stated Eric Hansotia , AGCO's Chairman , President and Chief Executive Officer . " AGCO continues to face unprecedented supply chain and logistics disruptions as well as material and freight cost inflation . Supply chain constraints have intensified in the recent weeks limiting our ability to meet our production and sales projections . Our efforts are focused on minimizing the impact of the supply chain disruptions to deliver strong full - year sales and earnings growth . Global market conditions remain positive as favorable farm economics are allowing farmers to upgrade and replace their aging fleets . With order boards significantly ahead of last year , we continue to see a strong response for our technology - focused products . AGCO will continue its