AGCO Corporation (NYSE:AGCO) Q3 2024 Earnings Conference Call November 5, 2024 10:00 AM ET

Company Participants

Greg Peterson - Head of IR

Eric Hansotia - Chairman, President and CEO

Damon Audia - SVP, CFO

Conference Call Participants

Jamie Cook - Truist Securities

Kristen Owen - Oppenheimer

Stephen Volkmann - Jefferies

Joel Jackson - BMO Capital Markets

Mig Dobre - RW Baird

Tami Zakaria - J.P. Morgan

Operator

Good day, and welcome to the AGCO Third Quarter 2024 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Greg Peterson, AGCO Head of Investor Relations. Please go ahead, sir.

Greg Peterson

Thanks, and good morning. Welcome to those of you joining us for AGCO's third quarter 2024 earnings call. We will refer to a slide presentation this morning that's posted on our website at www.agcocorp.com.

The non-GAAP measures used in the slide presentation are reconciled to GAAP measures in the appendix of that presentation. We will make forward-looking statements this morning, including statements about our strategic plans and initiatives, as well as their financial impacts. We'll discuss demand, product development, and capital expenditure plans, and timing of those plans, and our expectations concerning the costs and benefits of those plans, and timing of those benefits.

We'll also cover future revenue, crop production, farm income, production levels, price levels, margins, earnings, operating income, cash flow, engineering expense, tax rates, and other financial metrics. All of these are subject to risks that could cause actual results to differ materially from those suggested by the statements.

These risks include, but are not limited to, adverse developments in the agricultural industry, supply chain disruption, inflation, weather, commodity prices, changes in product demand, the possible failure to develop new and improved products on time, including premium technology and smart farming solutions within budget, and with the expected performance and price benefits, difficulties in integrating the PTx Trimble business in a manner that produces the expected financial results. Reactions by customers and competitors to the transaction, including the rate at which PTx Trimble's largest OEM customer reduces purchases of PTx Trimble equipment and the rate of replacement by the joint venture of those sales.

Introduction of new or improved products by our competitors and reduction in pricing by them. The war in the Ukraine, difficulties in integrating acquired businesses and in completing expansion and modernization plans on time and in a manner that produces the expected financial results and adverse changes in the financial and foreign exchange markets. Actual results could differ materially from those suggested by these statements.