DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Agco Corp. (AGCO) on Tuesday reported fourth-quarter net income of $322.2 million.
The Duluth, Georgia-based company said it had net income of $4.29 per share. Earnings, adjusted for non-recurring costs and restructuring costs, were $4.47 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.88 per share.
The farm equipment maker posted revenue of $3.9 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $3.76 billion.
For the year, the company reported profit of $889.6 million, or $11.87 per share. Revenue was reported as $12.65 billion.
Agco expects full-year revenue of $14 billion.
Agco shares have declined nearly 3% since the beginning of the year. The stock has increased 18% 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
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