Stock Monitor: Deere Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 07, 2017 / Active-Investors free earnings report on AGCO Corp. (NYSE: AGCO) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=AGCO. The Company posted its financial results on October 31, 2017, for the third quarter of the fiscal year 2017. The manufacturer and distributor of agricultural equipment's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for Deere & Company (NYSE: DE), which also belongs to the Industrial Goods sector as the Company AGCO Corp. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AGCO Corp. most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=AGCO

Earnings Highlights and Summary

For the three months ended September 30, 2017, AGCO's net revenues increased 12.8%, or 10.1% on a constant currency basis, to $1.99 billion from $1.76 billion in Q3 FY16. The Company's net revenue figures surpassed analysts' expectations of $1.91 billion.

During Q3 FY17, AGCO's gross profit increased 21.3% to $428.6 million from $353.5 million in the same period of last year. For the reported quarter, the Company's gross margin increased 150 basis points to 21.6% of revenue from 20.1% of revenue in Q3 FY16.

During Q3 FY17, AGCO's operating income increased 64.4% to $97 million from $59 million in the comparable period of last year. During Q3 FY17, the Company's operating margin increased 160 basis points to 4.9% of revenue from 3.3% of revenue in Q3 FY16.

For the reported quarter, AGCO's net income increased 51.8% to $60.7 million on a y-o-y basis from $40.0 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 52% to $0.76 on a y-o-y basis from $0.50 in the corresponding period of last year. For the reported quarter, AGCO's adjusted net income increased 52.5% to $63.0 million on a y-o-y basis from $41.3 million in Q3 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 54.9% to $0.79 on a y-o-y basis from $0.51 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.72.

Segment Details

North America - During Q3 FY17, AGCO's North America segment's net revenue increased 6.7%, or 5.8% on a constant currency basis, to $483.5 million from $453.0 million in the same period of last year. For the reported quarter, the segment's operating income increased 28.9% to $27.2 million from $21.1 million in the third quarter of 2016.

South America - During Q3 FY17, AGCO's South America segment's net revenue increased 4.5%, or 4.8% on a constant currency basis, to $273.5 million from $261.8 million in the comparable period of last year. For the reported quarter, the segment's operating income increased 52.5% to $9.0 million from $5.9 million in the third quarter of 2016.

Europe/Middle-East - During Q3 FY17, AGCO's Europe/Middle-East segment's net revenue increased 15.2%, or 10.9% on a constant currency basis, to $1.02 billion from $883.3 million in the corresponding period of last year. For the reported quarter, the segment's operating income increased 30.5% to $98.9 million from $75.8 million in the third quarter of 2016.

Asia/Pacific/Africa - During Q3 FY17, AGCO's Asia/Pacific/Africa segment's net revenue increased 29.4%, or 25.9% on a constant currency basis, to $211.6 million from $163.5 million in the same period of last year. For the reported quarter, the segment's operating income increased 116.9% to $15.4 million from $7.1 million in the third quarter of 2016.

Balance Sheet

As on September 30, 2017, AGCO's cash and cash equivalents decreased 27.2% to $312.7 million from $429.7 million as on December 31, 2016. For the reported quarter, the Company's net long-term debt increased 21.1% to $1.95 billion from $1.61 billion in Q4 FY16.

For the reported quarter, the Company's net accounts and notes receivables increased 17.6% to $1.05 billion from $890.4 million in the fourth quarter of 2016. For the reported quarter, the Company's accounts payable increased 20.3% to $869.4 million from $722.6 million in Q4 FY16.

In the first nine months of 2017, the Company's cash provided by operating activities was negative $29.2 million versus negative $127.4 million in the comparable period of last year.

In September 2017, AGCO acquired Precision Planting, a leader in innovative planting technology. In October 2017, AGCO purchased the forage division of the Lely Group.

Outlook

For FY17, the Company expects net revenue to be $8.2 billion, and capital expenditure to be in the range of $200 million - $225 million.

Stock Performance Snapshot

December 06, 2017 - At Wednesday's closing bell, AGCO Corp.'s stock fell 1.10%, ending the trading session at $70.71.

Volume traded for the day: 562.92 thousand shares.

Stock performance in the last month ? up 1.45%; previous three-month period ? up 5.98%; past twelve-month period ? up 20.52%; and year-to-date ? up 22.21%

After yesterday's close, AGCO Corp.'s market cap was at $5.63 billion.

Price to Earnings (P/E) ratio was at 27.81.

The stock has a dividend yield of 0.79%.

The stock is part of the Industrial Goods sector, categorized under the Farm & Construction Machinery industry. This sector was up 0.1% at the end of the session.

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