From Investing.com: 2024-05-02 08:23:50

AGCO Corporation reported a decrease in first-quarter sales, with net sales at $2.9 billion, down 12.1% from last year. Adjusted EPS was $2.32, above estimates. The company’s guidance for 2024 is below analyst expectations at $13.5 billion in net sales and $12.00 EPS. Regional sales varied, with growth in EME and declines in other regions.

Despite sales decline, AGCO remains focused on managing costs and investing in precision agriculture. The company’s strategic efforts aim to enhance technology offerings. AGCO is committed to delivering value to shareholders through dividends and high-margin initiatives. The market’s response to guidance may be negative, but AGCO is determined to execute its strategy.



Read more at Investing.com: AGCO shares dip almost 2% as FY24 guidance trails estimates By Investing.com