Agri-Giant AGCO Struggles with Market Conditions And Production Cuts; Stock Slides
AGCO Corporation (NYSE: AGCO ) shares are trading lower after the company reported worse-than-expected second-quarter financial results results and lowered its FY24 guidance. The company reported that the second quarter adjusted earnings per share was $2.53, missing the analyst consensus of $2.90. Quarterly sales of $3.247 billion (down 15.1% year-over-year) missed the street view of $3.482 billion. “While we continue to successfully execute our Farmer-first strategy, second quarter results were influenced by weakening market conditions and significant production cuts aimed at reducing … Full story available on Benzinga.com
https://www.benzinga.com/news/earnings/24/07/40044822/agri-giant-agco-struggles-with-market-conditions-and-production-cuts-stock-slides