Agco: Q2 Earnings Snapshot

DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Tuesday reported a second-quarter loss of $367.1 million, after reporting a profit in the same period a year earlier.

The Duluth, Georgia-based company said it had a loss of $4.92 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $2.53 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 $2.88 per share.

The farm equipment maker posted revenue of $3.25 billion in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $3.49 billion.

Agco expects full-year earnings to be $8 per share, with revenue expected to be $12.5 billion.

Agco shares have decreased 16% since the beginning of the year. The stock has declined 23% in the last 12 months.

_____

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