AGCO Corporation

Good day, and welcome to Agco first quarter 2024 earnings call. All participants will be in the listen-only mode. Should you need assistance, please signal and conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. In consideration of time, please limit yourself to one question and one follow-up. To ask questions, you may press star then 1 on your touch tone phone. To withdraw your question, please press star then 2. Please note that this event is being recorded. I would now like to turn the conference over to Greg Peterson, ECCO Head of Investor Relations.

Please go ahead. Mr. Peterson, your line is unmuted. Please go ahead.

Thanks, Jagar, and good morning. Welcome to those of you joining us for AGCO's first 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 metrics in the appendix of that presentation. We'll 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. It will also cover future revenue, crop production, and farm income, production levels, price levels, margins, earnings, cash flow, 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, interruptions in supply of parts and products, 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. Also includes difficulties in integrating the PTX Trimble business in a manner that produces the expected financial results. The 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. And it also includes introduction of the new or improved products by our competitors and reductions in pricing by them. The war in the Ukraine difficulties in integrating acquired businesses and in completing expansion and modernization plans on time in a manner that produces the expected financial results and adverse changes in financial and foreign exchange markets. Actual results could differ materially from those suggested in these statements. Further information concerning these and other risks included in AGCO's filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31st, 2023, and subsequent Form 10-Q filings. AGCO disclaims any obligation to update any forward-looking statements except as required by law. We'll make a replay of this call available later today on our corporate website. On the call with me this morning are Eric Cansodi, our Chairman, President, and Chief Executive Officer, as well as Damon Adia, our Senior Vice President and Chief Financial Officer. With that, Eric, please go ahead.