AGCO - AGCO EPS beats by $0.87 beats on revenue; outlook

AGCO (AGCO): Q1 Non-GAAP EPS of $2.00 beats by $0.87; GAAP EPS of $1.99 beats by $0.88.Revenue of $2.38B (+23.3% Y/Y) beats by $160M.FY20201 guidance: Net sales for 2021 are expected to range from $10.6 billion to $10.8 billion vs. consensus of $10.30B. Gross and operating margins are projected to improve from 2020 levels, reflecting the impact of higher sales and production volumes as well as margin improvement initiatives. Earnings per share is targeted in a range from $8.40 to $8.60 vs. consensus of $7.34.Press Release

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AGCO EPS beats by $0.87, beats on revenue; outlook