AGCO Corp (AGCO) Tops Earnings & Revenue Estimates In Q4
Zacks Investment Research | Feb 05, 2019 09:24PM ET
AGCO Corporation (NYSE:AGCO) reported fourth-quarter adjusted earnings per share of $1.31, up 19% year over year. The reported figure surpassed the Zacks Consensus Estimate of $1.23.
Including restructuring and other infrequent expenses, the company reported earnings of $1.26 per share in the quarter, up 130% year over year.
Revenues of $2,592 million were up 2.6% from $2,527 million in the year-ago quarter. Additionally, revenues surpassed the Zacks Consensus Estimate of $2,574 million. Excluding unfavorable currency-translation impact of around 4.7%, net sales increased approximately 7.3% year over year.
Operational Update
Cost of sales went up 3% to $2,054 million from the year-earlier quarter. Gross profit came in at $539 million in the quarter, up around 1.5% from $531 million in the year-ago quarter. Gross margin was in line with the prior-year-quarter level.
Selling, general and administrative expenses fell 0.4% year over year to $273 million. Adjusted income from operations increased 10.3% year over year to $161 million. Consequently, operating margin improved 6.2% year over year from 5.8% in the year-ago-quarter.
AGCO Corporation Price, Consensus and EPS Surprise
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