Agco: Q3 Earnings Snapshot

Associated Press Finance
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DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Tuesday reported third-quarter profit of $280.6 million.

On a per-share basis, the Duluth, Georgia-based company said it had net income of $3.74. Earnings, adjusted for non-recurring costs and restructuring costs, were $3.97 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.27 per share.

The farm equipment maker posted revenue of $3.46 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $3.47 billion.

Agco expects full-year earnings to be $15.75 per share, with revenue expected to be $14.7 billion.

Agco shares have dropped 19% since the beginning of the year. The stock has declined slightly more than 9% in the last 12 months.

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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

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