Agco (AGCO) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Agco (AGCO) reported revenue of $3.46 billion, up 10.7% over the same period last year. EPS came in at $3.97, compared to $3.18 in the year-ago quarter.
The reported revenue represents a surprise of -0.53% over the Zacks Consensus Estimate of $3.47 billion. With the consensus EPS estimate being $3.27, the EPS surprise was +21.41%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Agco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Asia/Pacific/Africa: $207.70 million versus the five-analyst average estimate of $288.35 million. The reported number represents a year-over-year change of -16.9%.
Net Sales- Europe/Middle East: $1.59 billion compared to the $1.54 billion average estimate based on five analysts. The reported number represents a change of +14.2% year over year.
Net Sales- South America: $719.80 million versus the five-analyst average estimate of $677.90 million. The reported number represents a year-over-year change of +26%.
Net Sales- North America: $941.10 million versus $976.14 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.4% change.
View all Key Company Metrics for Agco here>>>
Shares of Agco have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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AGCO Corporation (AGCO) : Free Stock Analysis Report
