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Agco: 3Q Earnings Snapshot

DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Tuesday reported third-quarter net income of $71.1 million.

On a per-share basis, the Duluth, Georgia-based company said it had net income of 89 cents. Earnings, adjusted for restructuring costs, came to 91 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The farm equipment maker posted revenue of $2.21 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.14 billion.

Agco expects full-year earnings to be $3.75 per share, with revenue expected to be $9.3 billion.

Agco shares have declined 27 percent since the beginning of the year. The stock has dropped 29 percent 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