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Sep 30, 2021
AGCO Q3 2021 Earnings Report
AGCO's financial performance for the third quarter of 2021 was reported, demonstrating increased sales, earnings growth, and margin expansion.
Key Takeaways
AGCO reported a strong third quarter with net sales of $2.7 billion, a 9.1% increase compared to Q3 2020. Reported net income was $2.40 per share, and adjusted net income was $2.41 per share, compared to $2.09 per share in the same period last year. The company is managing supply chain and logistics disruptions and expects strong full-year sales and earnings growth.
Net sales for the third quarter increased by approximately 9.1% compared to the third quarter of 2020.
Reported net income was $2.40 per share for the third quarter of 2021, compared to $2.09 per share for the third quarter of 2020.
Europe/Middle East sales increased by 4.0%, North America sales increased by 9.7%, South America sales increased by 39.9%, and Asia/Pacific/Africa sales increased by 2.2%.
The company revised its full-year outlook for net sales and net income per share due to supply chain disruptions.
Revenue by Geographic Location
Forward Guidance
AGCO expects net sales for the full year of 2021 to range from $10.9 billion to $11.1 billion. Earnings per share are targeted in a range from $8.75 to $9.00.
Positive Outlook
- Improved sales volumes are expected.
- Positive pricing is anticipated.
- Favorable foreign currency translation is projected.
- Higher sales and production volumes are expected to improve gross and operating margins.
- Improved profitability is expected to fund increases in engineering and other technology investments.
Challenges Ahead
- The ability of the Company’s supply chain to deliver parts and components on schedule is currently difficult to predict.
- AGCO’s results will be impacted if the actual supply chain delivery performance differs from these estimates.
- Supply chain constraints have intensified in the recent weeks limiting our ability to meet our production and sales projections.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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