AGCO Corp (AGCO) revealed a profit for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $10.5 million, or $0.14 per share. This compares with $168.0 million, or $2.25 per share, last year.
Excluding items, AGCO Corp reported adjusted earnings of $30.9 million or $0.41 per share for the period.
Analysts on average had expected the company to earn $0.04 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 30.0% to $2.050 billion from $2.928 billion last year.
AGCO Corp earnings at a glance (GAAP) :
-Earnings: $10.5 Mln. vs. $168.0 Mln. last year.-EPS: $0.14 vs. $2.25 last year.-Revenue: $2.050 Bln vs. $2.928 Bln last year.
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