DULUTH, Ga. – DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Tuesday reported second-quarter profit of $91.4 million.
The Duluth, Georgia-based company said it had profit of $1.14 per share. Earnings, adjusted to extinguish debt and for restructuring costs, were $1.32 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The farm equipment maker posted revenue of $2.54 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.43 billion.
Agco expects full-year earnings to be $3.70 per share, with revenue expected to be $9.3 billion.
Agco shares have dropped 16 percent since the beginning of the year. The stock has fallen 16 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on AGCO at https://www.zacks.com/ap/AGCO