Loading...
•
Mar 31, 2021
AGCO Q1 2021 Earnings Report
AGCO's first quarter results were reported, showing an increase in net sales and record operating income and earnings per share.
Key Takeaways
AGCO reported a strong first quarter with net sales increasing by 23.4% compared to Q1 2020. The company achieved record first quarter operating income and earnings per share, driven by favorable market demand and positive response to technology-focused products.
Net sales for the first quarter were approximately $2.4 billion, a 23.4% increase compared to Q1 2020.
Reported net income was $1.99 per share, while adjusted net income was $2.00 per share.
Sales growth and margin expansion were seen across all regions.
The company raised its full-year outlook for net sales and net income per share.
AGCO
AGCO
AGCO Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comSouth America Revenue
CapyFin.comEurope/Middle East Revenue
CapyFin.comAsia/Pacific/Africa Revenue
CapyFin.com Forward Guidance
AGCO expects net sales for 2021 to range from $10.6 billion to $10.8 billion, with improved sales volumes, pricing, and positive foreign currency translation. Earnings per share is targeted in a range from $8.40 to $8.60.
Positive Outlook
- Improved sales volumes
- Better pricing
- Positive foreign currency translation
- Gross and operating margins are projected to improve
- Increased investment in engineering and technology
Challenges Ahead
- Potential sales or production disruptions caused by the COVID-19 pandemic.
- Volatility in global economic and political environments.
- Market demand for its products.
- Supply chain disruptions.
- Workforce availability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income