AGCO First Quarter 2024 Earnings: Misses Expectations

AGCO (NYSE:AGCO) First Quarter 2024 Results

Key Financial Results

• Revenue: US$2.93b (down 12% from 1Q 2023).
• Net income: US$168.0m (down 28% from 1Q 2023).
• Profit margin: 5.7% (down from 7.0% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$2.25 (down from US$3.11 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

AGCO Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 3.5%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.6% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's shares are down 6.0% from a week ago.

Valuation

It's possible that AGCO could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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