DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Tuesday reported third-quarter net income of $30 million.
On a per-share basis, the Duluth, Georgia-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 68 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The farm equipment maker posted revenue of $2.6 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $2.9 billion.
Agco shares have dropped 19% since the beginning of the year. The stock has dropped 17% in the last 12 months.
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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
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