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Monday June 17th, 2019 6:53PM

Agco: 2Q Earnings Snapshot

By The Associated Press

DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Tuesday reported second-quarter profit of $91.4 million.

The Duluth, Georgia-based company said it had profit of $1.14 per share. Earnings, adjusted to extinguish debt and for restructuring costs, were $1.32 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The farm equipment maker posted revenue of $2.54 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.43 billion.

Agco expects full-year earnings to be $3.70 per share, with revenue expected to be $9.3 billion.

Agco shares have dropped 16 percent since the beginning of the year. The stock has fallen 16 percent 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

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