Northwire Canada EditionSunday, October 18, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0% GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0%
Earnings

AGI Announces Third Quarter 2025 Results & Conference Call

By The Northwire Desk — AI Analysis Jan 08, 2026 · 19:33 AFN · 23.67 AG GROWTH INTERNATIONAL INC.
AFN · Price

Executive Summary

  • AGI reported Q3 2025 revenue of $389 million, up 9% YoY, with Adjusted EBITDA of $71 million (+4% YoY).
  • Net‑debt leverage remained steady at 3.9×; order book grew modestly to $667 million (+1% YoY), driven by strong international Commercial growth, especially in Brazil and LATAM.
  • Management highlighted a filing delay, an investment vehicle in Brazil to monetize financing receivables, and a lower‑than‑expected Q4 2025 Adjusted EBITDA outlook due to market headwinds and higher SG&A costs.

Key Details

  • Revenue: $389 M (Q3 2025) vs. $357 M (Q3 2024); Farm segment down 27% YoY, Commercial up 48% YoY.
  • Adjusted EBITDA: $71 M (up 4% YoY); Margin fell to 18.2% from 19.2% YoY (‑95 bps).
  • Net‑Debt Leverage Ratio: 3.9× at Sept 30 2025 (unchanged QoQ, up from 3.1× a year earlier).
  • Free Cash Flow: Impacted by temporary working‑capital requirements on large international Commercial projects.
  • Order Book: $666.8 M as of Sept 30 2025 (+1% YoY); growth driven by Brazil and broader LATAM commercial activity.
  • Geographic Revenue Mix: Canada $50.3 M (‑43% YoY), U.S. $133.6 M (‑1% YoY), International $205.6 M (+54% YoY).
  • Segment Performance:
  • Farm – revenue $133.9 M (‑27% YoY); Adjusted EBITDA $27.5 M (‑39% YoY).
  • Commercial – revenue $255.5 M (+48% YoY); Adjusted EBITDA $49.7 M (+61% YoY).
  • Filing Delay: Management’s MD&A explains the delay; documents available on SEDAR+ and company website.
  • Outlook Q4 2025: Anticipated lower Adjusted EBITDA sequentially and YoY due to challenging market conditions, negative mix, and higher SG&A. Farm visibility limited into early 2026; Commercial order book provides near‑term visibility through H1 2026.
  • Brazil Investment Vehicle: Established to monetize financing receivables, expected to improve cash flow and leverage into early 2026 while supporting new project wins.
  • Conference Call: Scheduled for Friday, Jan 9 2026 at 8:00 a.m. ET; webcast link provided in release.

Notable Quotes

“Our third quarter results reflect both the realities of our markets and the strength of our strategy,” – Paul Householder, President & CEO.
“The previously announced investment vehicle in Brazil will provide a meaningful near‑term benefit to our cash flow and leverage metrics…” – Jim Rudyk, CFO.

Read the original news release →

More from AG GROWTH INTERNATIONAL INC.

Jun 18, 2026 · 16:30

Activist-Driven Strategic Review Moves Forward, But Execution Risks and High Leverage Cap Near-Term Upside

Regulatory May 08, 2026 · 07:30

Ag Growth’s truce with Plantro clears the path for a strategic overhaul, but the real test will be whether any suitor sees value in a deeply challenged equipment maker.

Other May 07, 2026 · 20:41

Leadership Stabilization Amidst Activist Pressure and Debt Restructuring

Management May 07, 2026 · 16:15

AGI Stabilizes Leadership Amidst Shrinking Order Book and Persistent Activist Pressure

Management May 06, 2026 · 17:33

AGI Debt Relief Masks Operational Decline as Activists Push for Sale

Earnings Apr 23, 2026 · 08:00

Activist Escalation Forces Sale Process Amidst Operational Distress

Other