Deere raises annual profit outlook on healthy equipment demand, strong order books [Reuters]
AGCO Corporation (AGCO)
Last agco corporation earnings: 2/6 07:30 am
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Source: Reuters
Shares in the world's largest farm equipment maker were up 3.6% in premarket trading after the company reported a 36% rise in second-quarter profit. Net income increased to $2.86 billion from $2.1 billion a year ago. Including this quarter, the heavy machinery manufacturer has beat earnings estimates for eight of the last nine quarters Deere expects 2023 net income in the range of $9.25 billion to $9.50 billion, higher than the $8.75 billion to $9.25 billion forecast earlier. The industrial bellwether, a barometer for the global economy, has maintained resilient operating profit margins, despite global market volatility. Farmers' demand for new equipment and parts to repair aging machinery has bolstered Deere's sales. Even though crop commodity prices continue to come down from last year's peak, which spurred spending from growers to upgrade their fleets, executives have reiterated that order books are still robust. The company's precision agriculture division's retail sale
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AGCO
News
- AGCO Co. (NYSE: AGCO) had its price target raised by analysts at Oppenheimer Holdings Inc. from $153.00 to $154.00. They now have an "outperform" rating on the stock.MarketBeat
- Precision Viticulture Market to Grow at CAGR of 11.07% through 2033; Expansion of Global Wine Industry & The Emergence of New Vineyards to Bolster Growth [Yahoo! Finance]Yahoo! Finance
- Farmers Are The Real Winners: AGCO PTx Trimble Joint Venture Launched [Forbes]Forbes
- AGCO Co. (NYSE: AGCO) had its price target raised by analysts at JPMorgan Chase & Co. from $145.00 to $150.00. They now have an "overweight" rating on the stock.MarketBeat
- AGCO ANNOUNCES FIRST-QUARTER 2024 EARNINGS RELEASE AND CONFERENCE CALL [Yahoo! Finance]Yahoo! Finance
AGCO
Earnings
- 2/6/24 - Miss
AGCO
Sec Filings
- 4/17/24 - Form SC
- 4/16/24 - Form 8-K
- 4/10/24 - Form SC
- AGCO's page on the SEC website