TRMB - AGCO Q3 Results Tops On Strong Demand Raised FY23 EPS Guidance For This Agricultural Machinery Maker | Benzinga
AGCO Corp (NYSE: AGCO) reported third-quarter FY23 net sales growth of 10.7% Y/Y to $3.456 billion, slightly missing the consensus of $3.463 billion.
The company's results benefitted from strong demand for its technology-rich products on healthy crop production, favorable farm economics and supply chain improvement.
Regional Sales: Sales included: South America +26.0% Y/Y, Europe/Middle East +14.2% Y/Y, North America +3.4% Y/Y and Asia/Pacific/Africa (-16.9% Y/Y).
The operating margin stood at 12.3%. Adjusted EPS improved to $3.97, beating the consensus of $3.30.
As of Sept. 30, 2023, cash, cash equivalents, and ...