AGCO - Agco poised for big gain after routing Q4 earnings estimates strong guidance

Agco (NYSE:AGCO) +6.5% pre-market after Q4 earnings more than doubled from a year earlier and easily topped analyst estimates, as sales surged on higher demand for tractors and other equipment. Q4 net income attributable to the company jumped to $282M from $135M in the year-ago quarter, and net revenues rose 16% to $3.16B from $2.72B; North America sales surged 39% to $674.7M, while South American sales jumped 52% to $405.6M. Agco issued upside guidance for FY 2022, seeing EPS of ~$11.50, below $11.85/share reported for FY 2021 but well above $10.58B analyst consensus estimate, on revenues of $12.3B vs. $11.89B consensus. Despite lower expected earnings, the company said margins should improve from 2021 due to higher sales and production volumes as well as higher pricing meant to offset inflation.

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Agco poised for big gain after routing Q4 earnings estimates, strong guidance