Agco Corp Up 3.21% To $128.63 After Earnings Beat

Tuesday, May 2, 2023 - Agco Corp (AGCO) reported upside earnings and revenues today.

Agco Corp's earnings came in at an EPS of $3.51 per share, 30.00% higher than estimates for an EPS of $2.7 per share. The firm's earnings are up 47% since reporting $2.39 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $3.2 billion. The Industrials company managed to surpass those expectations for its first quarter with revenue of $3.3 billion, a positive revenue surprise of $174 million (6%). The firm managed 24% growth year-over-year due to Agco Corp reporting quarterly revenue of $2.7 billion in its year-ago quarter. Agco Corp achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 3.21% to $128.63 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Agco Corp a Bullish Sentiment Rank from InvestorsObserver.

Agco Corp has performed a little below average during the past few months. Before the report, Agco Corp received a Long-Term Technical Rank by InvestorsObserver of 47, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $145.53 on March 6, 2023 and set a 52-week low on July 14, 2022 at $88.55.

AGCO is a global leader in the design manufacture and distribution of smart solutions for sustainable agriculture. Our portfolio is the most comprehensive in the agriculture industry including a full line of tractors combine harvesters hay and forage equipment seeding and tillage implements grain storage and protein production systems. We are a team of more than 20000 colleagues in over 35 countries with a passion for progress and pride in delivering industry-leading technologies that solve real-world problems. Experience our global diversity and enterprising spirit while helping us create innovative technologies and a positive impact that helps feed the worlds nearly 8 billion people. http://blog.AGCOcorp.com https://www.facebook.com/AGCOcorp/ https://www.instagram.com/agcocorp http://www.twitter.com/AGCOcorp http://www.youtube.