agco corp (AGCO) Key Developments
Agribotix LLC and AGCO Partners to Unveil New, Integrated Drone-Enabled Agricultural Intelligence Solution
Sep 3 15
Agribotix LLC and AGCO have partnered to bring a turnkey agricultural intelligence solution to market. The 'all-in-one', drone-enabled package combines Agribotix's FarmLens cloud-based data platform with the purpose-built SOLO AGCO edition quadcopter to provide customers with an efficient, reliable way to collect and analyze field data for precision agriculture applications. The new package enables users to scout and record aerial field data across up to 60 acres in a single flight. Agricultural imaging cameras capture RGB and near-infrared images. The data collected is uploaded to the FarmLens platform, where it is then processed to produce high-resolution Field Health Reports (NDVI) essential for identifying potential yield-limiting problems early on. These actionable reports can then be used to optimize inputs and to address issues, leading to improved crop yields and increased profits for growers. Agribotix provides the platform, service and support for the integrated solution. The SOLO AGCO edition drone is built on the 3D Robotics Solo platform. The UAV is future-ready, designed for easy integration with technological upgrades and enhancements.
AGCO Corporation to Launch New Solution for Wireless Task Data Transfer
Sep 1 15
AGCO Corporation announced that it will launch a new solution for wireless task data transfer. Go-Task™ will be one of AGCO’s solutions for wireless transfer of task data to and from select AGCO machines and supported Farm Management Information Software (FMIS) programs. The Go-Task mobile app will be a key product of Fuse® Technologies, AGCO’s next generation approach to precision agriculture and precision machine management. Go-Task will enable farmers to make better decisions by reducing the time and effort it takes to move and manage the task data generated and utilized by their operation. Features and Benefits of The Go-Task app Include: Enables wireless task data transfer between AGCO machine and a supported FMIS: Eliminates risk of lost or incomplete task data that may result from lost USB sticks or other complications associated with manual data transfer; Easier movement and management of data, enabling better operational decisions leading to increased efficiency and productivity.Go-Task utilizes AGCO’s existing task data exchange server for task data transfer: Task data is sent via AGCO’s task data exchange server directly into supported FMIS software. This ensures that they have complete control over who can see their data; AGCO’s task data exchange server is currently connected with multiple FMIS programs. As part of AGCO’s open approach, the number of FMIS programs connected to the server will continue to grow. Go-Task can be used on their iOS 7.0 and above devices including iPod, iPhone and iPad; Transfer files using existing data plan; Configure app to use only Wi-Fi networks reducing data plan usage; Wi-Fi only mode can be used on devices that do not have a cellular connection. Go-Task automatically syncs with task data on the terminal when a task is completed or paused; Reduces risk of lost or missing task data in an FMIS that may result from an operator failing to download data after a job is completed. AGCO’s Go-Task mobile app can be used on any machine utilizing a C1000, C2100, or C3000 terminal for logging task data (using supported software version). All they will need is a supported wireless USB dongle, a subscription to AGCO’s task data exchange server, and the Go-Task app which will be downloadable for free from the iTunes app store. Pricing and other information concerning subscription and hardware requirements will be made available by January 2016 with the official market release of the Go-Task app.
AGCO Launches Fuse Connected Services
Aug 26 15
AGCO Corporation announced the launch of Fuse Connected Services, a new customer offering through AGCO dealers. Fuse Connected Services combines the right machines, technology, parts, service and support to help customers optimize their operation and maximize uptime through preventative maintenance, machine condition monitoring and year-round consultation. The services will launch at select AGCO dealers in North America and Western Europe in the third and fourth quarters of 2015. Supported by AGCO Parts, AGCO Service and AGCO Advanced Technology Solutions (ATS), Fuse Connected Services is designed to help growers improve overall farm efficiency by reducing maintenance and input costs, improving yields and enabling more informed business decisions. At launch, two to three service packages will be available, varying by region, with different degrees of hands-on dealer support. Level one enables customers to conduct self-monitoring, data transfer and management plus set-up, calibration and operation support from the global Fuse Contact Center via phone, live chat and email. Higher level packages offer proactive, remote condition monitoring by dealer experts, off-season inspections and reviews, operational consultation and training. Specific service packages and pricing will vary based on individual customer needs and dealer capabilities.
AGCO Corporation Presents at Jefferies 11th Annual Industrials Conference, Aug-12-2015 09:20 AM
Aug 5 15
AGCO Corporation Presents at Jefferies 11th Annual Industrials Conference, Aug-12-2015 09:20 AM. Venue: Grand Hyatt, 109 E. 42nd Street, New York, New York, United States. Speakers: Andrew H. Beck, Chief Financial Officer and Senior Vice President.
AGCO Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Full Year 2015; Provides Earnings Guidance for the Third Quarter and Production Guidance for the Third Quarter and Full Year of 2015
Jul 28 15
AGCO Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported second quarter sales of $2.07 billion, down from $2.75 billion in the same period last year, hurt in part by unfavorable currency translation. Lower commodity prices and the expectation of reduced farm income also pressured global sales of farm equipment. Net income for the quarter came in at $107.1 million, versus $168.2 million last year. Diluted EPS were $1.22, versus $1.77 last year. Adjusted EPS was $1.25 per share. Profit dropped 49% to $135.5 million. Income from operations was $149.9 million against $266.7 million a year ago. Income before income taxes and equity in net earnings of affiliates were $129.1 million against $238.1 million a year ago. On the adjusted basis, income from operations was $153.9 million against $266.7 million a year ago. Net income was $110.0 million against $168.2 million a year ago. Earnings per share were $1.25 against $1.77 a year ago.
For the six months, the company reported net sales of $3,771.9 million against $5,083.7 million a year ago. Income from operations was $196.7 million against $422.4 million a year ago. Income before income taxes and equity in net earnings of affiliates were $155.9 million against $368.7 million a year ago. Net income attributable to the company and subsidiaries was $137.2 million against $267.8 million a year ago. Diluted net income per common share attributable to the company and subsidiaries was $1.55 against $2.79 a year ago. Net cash provided by operating activities was $28.0 million against cash outflow from operating activities of $254.2 million a year ago. Purchases of property, plant and equipment was $101.3 million against $155.5 million a year ago. On the adjusted basis, income from operations was $211.3 million against $422.4 million a year ago. Net income was $147.9 million against $267.8 million a year ago. Earnings per share were $1.67 against $2.79 a year ago.
The company boosted its full-year 2015 earnings per share guidance increased to approximately $3.10 from approximately $3.00. The company’s net sales for 2015 are expected to range from $7.7 billion to $7.9 billion. For the full year of 2015, the company expects capex to be about flat compared to 2014 as it continues to make strategic investments to refresh and expand its product line, upgrade its system capabilities and improve its factory productivity. The company is targeting 2015 adjusted earnings per share of approximately $3.10 and EPS is expected $2.98. The company expects capital expenditures to be approximately $300 million and free cash flow to be approximately $300 million. The company also expects lower sales and production levels, as well as a weaker sales mix to negatively impact gross margins. These negative impacts are expected to be partially offset by the benefit of new products, its productivity and purchasing initiatives and its restructuring actions. The company is forecasting adjusted operating margins, ranging from 5.75% to 6% in 2015, and is targeting an effective tax rate of approximately 33% for 2015. The company expects gross and operating margins to be down from 2014 levels, reflecting the negative impact of lower sales volumes and a weaker sales mix.
In the third quarter of 2015, sales and earnings per share are expected to be significantly lower than reported for the third quarter of 2014 due to lower sales and production levels discussed earlier. Third quarter 2015 earnings per share are expected to be in the range of $0.50 to $0.55.
The company expects third quarter of 2015 production to be down 10% to 15%.
For the full year of 2015 production is expected to be lower by about 15% compared to 2014 levels. The 2015 production mix will be weaker than last year, with more significant reductions in higher horsepower equipment.