AGCO Corp. (AGCO) Guides Q1 EPS of About 25c; Est. at 44c
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AGCO Corp. (AGCO) Tops Q4 EPS by 51c; Guides FY15 Revs Below the Street
February 3, 2015 8:10 AM ESTAGCO Corp. (NYSE: AGCO) reported Q4 EPS of $1.18, $0.51 better than the analyst estimate of $0.67. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.42 billion.
AGCO Corp. sees FY2015 revenue of $8.1-8.3 billion, versus the consensus of $8.47 billion.
Despite softening market demand in the fourth quarter, we made solid progress with both inventory reduction and our expense savings program, stated Martin Richenhagen, AGCOs Chairman, President and Chief Executive Officer. By lowering production approximately 20% compared to the fourth quarter of 2013, inventories ended the year well below December 31, 2013 levels. We... More
