AGCO REPORTS SECOND-QUARTER RESULTS
AGCO reported Q2 net sales of $2.6 billion, a decrease of 1.0% year-over-year (down 3.7% constant currency), while adjusted EPS grew 6% to $1.43. Citing weaker-than-expected industry conditions and currency fluctuations, management adjusted its full-year outlook to adjusted EPS of $5.50-$5.75 on net sales of $10.1-$10.2 billion. The company completed $345 million in share repurchases during the quarter and sold its 49% equity interests in AGCO Finance U.S.
Key figures
- Eps
- 1.08
- Revenue
- $2.6 billion
- Guidance
- Full-year adjusted EPS $5.50 - $5.75; Net sales $10.1 billion - $10.2 billion
- Revenue Yoy
- -1.0%
- Adjusted eps
- 1.43
- Jv sale proceeds
- 190000000
- Share repurchases
- 345000000
- Operating margin guidance
- 7.5%
AI analysis
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