DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Tuesday reported fourth-quarter net income of $98.7 million.
The Duluth, Georgia-based company said it had profit of $1.26 per share. Earnings, adjusted for one-time gains and costs, came to $1.31 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The farm equipment maker posted revenue of $2.59 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.57 billion.
For the year, the company reported profit of $285.5 million, or $3.58 per share. Revenue was reported as $9.35 billion.
Agco shares have risen 18 percent since the beginning of the year. The stock has dropped 10 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