By Paulo Trevisani
AGCO Corp. said Tuesday it expects foreign currency translations to curb sales growth this year, after hurting first-quarter results.
The Duluth, Ga., maker of agricultural equipment reported sales of $2.7 billion in the quarter, up 12.9% from a year earlier, including an FX headwind of around 5%.
The company forecast full-year 2022 sales of $12.5 billion to $12.7 billion, reflecting increased sales volumes and pricing partially offset by negative foreign currency translation.
Its previous full-year sales outlook was $12.3 billion.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
05-03-22 0919ET