AGCO - AGCO share surges ~6% on Q3 earnings

AGCO ([[AGCO]] +6.2%) reports Q3 net sales of $2.5B, an increase of ~18.4% Y/Y.Reported regional sales results: Europe/Middle East 22.7%, North America 8.6%, South America 14.4%, Asia/Pacific/Africa 25.2%.Regional operating margin performance: EME 13.3%, North America 10.0%, South America 6.1%, APA 10.1%.YTD free cash flow increased over $309M from the first nine months of 2019.Funding position improved with net debt below September 2019 levels.“Global industry demand for farm equipment is now expected to be relatively flat in 2020 versus 2019 with improved demand in North and South America offsetting lower demand in Europe,” mentions Martin Richenhagen, Chairman and CEO.FY Outlook: Net sales ~$8.9B; adjusted operating margins are expected to be improved from 2019 levels.Conference call on Tuesday, November 3, 2020 at 10:00 a.m.Earnings call presentationPreviously: AGCO EPS beats by $1.09, beats on revenue (Nov. 3)

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AGCO share surges ~6% on Q3 earnings