DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Thursday reported second-quarter profit of $177.7 million.
On a per-share basis, the Duluth, Georgia-based company said it had net income of $2.37. Earnings, adjusted for restructuring costs, were $2.38 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.
The farm equipment maker posted revenue of $2.95 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $2.96 billion.
Agco expects full-year earnings in the range of $11.70 to $11.90 per share, with revenue in the range of $12.4 billion to $12.6 billion.
Agco shares have decreased 11% since the beginning of the year. The stock has decreased 17% in the last 12 months.
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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