AGCO - AGCO's Mixed Harvest: Sales Slip And Earnings Miss Mark Company Eyes Cautious Growth In 2024 | Benzinga
AGCO Corp (NYSE:AGCO) reported fourth-quarter fiscal 2023 net sales decline of 2.5% year-over-year to $3.80 billion, missing the consensus of $4.03 billion.
Regional Sales: South America -38.9% Y/Y, Europe/Middle East +3.3% Y/Y, North America +3.8% Y/Y and Asia/Pacific/Africa +11.3% Y/Y.
The adjusted operating income slid 13.2% Y/Y to $405.3 million, and the margin contracted by 133 bps to 10.7%.
The company reported regional operating margin performance with EME at 16.2%, ...