Agco: 2Q Earnings Snapshot
DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Tuesday reported second-quarter earnings of $140.8 million.
The Duluth, Georgia-based company said it had profit of $1.82 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The farm equipment maker posted revenue of $2.42 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $2.55 billion.
Agco expects full-year earnings to be $5.10 per share.
Agco shares have increased 37% since the beginning of the year. The stock has climbed 25% in the last 12 months.