AGCO Q2 2021 Earnings Report
Key Takeaways
AGCO reported net sales of approximately $2.9 billion for the second quarter, a 43.5% increase compared to the second quarter of 2020. Reported net income was $3.73 per share, and adjusted net income was $2.88 per share.
Regional sales results: Europe/Middle East (“EME”) +45.4%, North America +32.2%, South America +55.9%, Asia/Pacific/Africa (“APA”)+56.7%
Constant currency regional sales results: EME +33.7%, North America +28.9%, South America +53.1%, APA +40.3%
Regional operating margin performance: EME 12.3%, North America 14.1%, South America 8.3%, APA 11.5%
Raised full-year outlook for net sales and net income per share
AGCO
AGCO
AGCO Revenue by Geographic Location
Forward Guidance
Net sales for the full year of 2021 are expected to range from $11.3 billion to $11.5 billion reflecting improved sales volumes, positive pricing and favorable foreign currency translation. Supported by these assumptions, 2021 earnings per share are targeted at approximately $9.50.
Positive Outlook
- Improved sales volumes
- Positive pricing
- Favorable foreign currency translation
- Higher sales and production volumes
- Cost reduction initiatives
Revenue & Expenses
Visualization of income flow from segment revenue to net income