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Agco: 1Q Earnings Snapshot

DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Thursday reported first-quarter profit of $65.1 million.

The Duluth, Georgia-based company said it had net income of 84 cents per share. Earnings, adjusted for restructuring costs, were 86 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The farm equipment maker posted revenue of $2 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.97 billion.

Agco expects full-year earnings to be $4.90 per share.

Agco shares have risen 26% since the beginning of the year. The stock has climbed 15% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGCO at https://www.zacks.com/ap/AGCO