Business
Agco: Q2 Earnings Snapshot
Agco: Q2 Earnings
About this update from Agco Corporation
DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Thursday reported second-quarter profit of $77.2 million . On a per-share basis, the Duluth, Georgia -based company said it had net income of $1.08 . Earnings, adjusted for amortization costs and restructuring costs, came to $1.43 per share. The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share. The farm equipment maker posted revenue of $2.61 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.73 billion . Agco expects full-year earnings in the range of $5.50 to $5.75 per share, with revenue in the range of $10.1 billion to $10.2 billion . Agco shares have risen 11% since the beginning of the year. The stock has risen almost 8% 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 For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News