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AGCO
🇺🇸 NYSE:AGCO
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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.

Total Revenue
$2.73B
Previous year: $2.5B
+9.1%
EPS
$2.41
Previous year: $2.09
+15.3%
Gross Profit
$627M
Previous year: $579M
+8.3%
Cash and Equivalents
$537M
Previous year: $511M
+5.1%
Free Cash Flow
$88.3M
Previous year: $380M
-76.8%
Total Assets
$8.94B
Previous year: $7.94B
+12.6%

AGCO

AGCO

AGCO 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.
  • AGCO continues to face unprecedented supply chain and logistics disruptions as well as material and freight cost inflation.
  • Full year expenses or benefits could differ based on future restructuring activity as well as other activities.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View AGCO