DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Friday reported third-quarter earnings of $305.7 million.
On a per-share basis, the Duluth, Georgia-based company said it had profit of $4.09. Earnings, adjusted for one-time gains and costs, came to $1.35 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The farm equipment maker posted revenue of $2.48 billion in the period, matching Street forecasts.
Agco expects full-year earnings to be $5 per share, with revenue expected to be $9.8 billion.
Agco shares have climbed 14% since the beginning of the year. The stock has risen almost 6% in the last 12 months.
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