Agco: 4Q Earnings Snapshot
DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Thursday reported a fourth-quarter loss of $88.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Duluth, Georgia-based company said it had a loss of $1.17. Earnings, adjusted for one-time gains and costs, were 94 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The farm equipment maker posted revenue of $2.51 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.66 billion.
For the year, the company reported profit of $125.2 million, or $1.63 per share. Revenue was reported as $9.04 billion.
Agco expects full-year earnings to be $5 to $5.20 per share.
Agco shares have declined slightly more than 5% since the beginning of the year. The stock has increased 15% in the last 12 months.