DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Thursday reported second-quarter net income of $314.8 million, after reporting a loss in the same period a year earlier.
The Duluth, Georgia-based company said it had net income of $4.22 per share. Earnings, adjusted for non-recurring gains, came to $1.35 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The farm equipment maker posted revenue of $2.64 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $2.48 billion.
Agco expects full-year earnings to be $4.75 to $5 per share, with revenue expected to be $9.8 billion.
Agco shares have risen 14% since the beginning of the year. The stock has risen 11% 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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