AGCO’s Mixed Harvest: Sales Slip And Earnings Miss Mark, Company Eyes Cautious Growth In 2024

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AGCO Corp (NYSE:AGCO) reported fourth-quarter fiscal 2023 net sales decline of 2.5% year-over-year to $3.80 billion, missing the consensus of $4.03 billion.

Regional Sales: South America -38.9% Y/Y, Europe/Middle East +3.3% Y/Y, North America +3.8% Y/Y and Asia/Pacific/Africa +11.3% Y/Y.

The adjusted operating income slid 13.2% Y/Y to $405.3 million, and the margin contracted by 133 bps to 10.7%.

The company reported regional operating margin performance with EME at 16.2%, …

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