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Last $54.88 USD
Change Today -0.01 / -0.02%
Volume 1.0M
AGCO On Other Exchanges
New York
As of 6:40 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

agco corp (AGCO) Key Developments

AGCO Corp. Announces Earnings Results for the Second Quarter of 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

AGCO Corp. announced earnings results for the second quarter of 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. 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. 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 are 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.

AGCO and Trimble Announce Collaborative Solution to Connect Agriculture Data Platforms

AGCO and Trimble announced that they are partnering to deliver wireless connectivity between AGCO's VarioDoc and AgCommand systems and the Trimble Connected Farm solution. The functionality is expected to be available to customers in North America in September and in Europe, Africa and the Middle East in the fourth quarter of 2015. The collaboration between Trimble and AGCO allows customers to access their AGCO machine data, via AGCO's telemetry product, AgCommand as well as their agronomic data through AGCO's VarioDoc task file management platform, from within the Connected Farm dashboard. This deeper integration of AGCO and Trimble technologies delivers a more streamlined approach to total farm management, simplifying the grower's ability to access and act on live machine and task data within a single, Web browser-based user interface.

AGCO Declares Quarterly Dividend, Payable on September 15, 2015

AGCO announced that its Board of Directors declared a regular quarterly dividend of $0.12 per common share to be paid on September 15, 2015 to all stockholders of record as of the close of business on August 14, 2015.

AGCO Corporation Presents at World Congress on Industrial Biotechnology, Jul-20-2015 02:30 PM

AGCO Corporation Presents at World Congress on Industrial Biotechnology, Jul-20-2015 02:30 PM. Venue: Palais des congrès de Montréal, Montréal, Quebec, Canada. Speakers: Glen Farris.

AGCO Corporation to Report Q2, 2015 Results on Jul 28, 2015

AGCO Corporation announced that they will report Q2, 2015 results at 10:00 AM, Eastern Daylight on Jul 28, 2015


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Valuation AGCO Industry Range
Price/Earnings 17.7x
Price/Sales 0.6x
Price/Book 1.5x
Price/Cash Flow 15.0x
TEV/Sales 0.3x

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