Agco reports Q1 adjusted EPS $2.32, consensus $2.25

Reports Q1 revenue $2.9B, consensus $3B. “AGCO demonstrated strong execution of its Farmer First-strategy in the first quarter,” said Eric Hansotia, AGCO’s Chairman, President and CEO. “Our results reflect the declining global demand for the agricultural equipment industry, and as anticipated, correspondingly significant production cuts that still led to solid results. The reductions were aimed at helping reduce dealer inventories. While cost and working capital management remain a priority to mitigate market pressures, we continue to reward shareholders through dividends and investing in our three margin-rich initiatives: growing our precision ag business, globalizing a full-line of our Fendt branded products and expanding our parts and service business.”