DULUTH, Ga. (AP) _ Agco Corp. (AGCO) on Thursday reported second-quarter earnings of $282.8 million.
The Duluth, Georgia-based company said it had profit of $3.73 per share. Earnings, adjusted for pretax gains, came to $2.88 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The farm equipment maker posted revenue of $2.88 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.74 billion.
Agco expects full-year earnings to be $9.50 per share, with revenue in the range of $11.3 billion to $11.5 billion.
Agco shares have increased 22% since the beginning of the year. The stock has more than doubled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGCO at https://www.zacks.com/ap/AGCO
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