DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Tuesday reported fourth-quarter net income of $98.7 million.
The Duluth, Georgia-based company said it had profit of $1.26 per share. Earnings, adjusted for one-time gains and costs, came to $1.31 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The farm equipment maker posted revenue of $2.59 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.57 billion.
For the year, the company reported profit of $285.5 million, or $3.58 per share. Revenue was reported as $9.35 billion.
Agco shares have risen 18 percent since the beginning of the year. The stock has dropped 10 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGCO at https://www.zacks.com/ap/AGCO
