|
 |
|
|
|||
|
 |
|
Oct. 29, 2021 Source: AGCO news release AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment and solutions, reported its results for the third quarter ended September 30, 2021. Net sales for the third quarter were approximately $2.7 billion, an increase of approximately 9.1% compared to the third quarter of 2020. Excluding favorable currency translation impacts of approximately 1.6%, net sales in the third quarter of 2021 increased approximately 7.5% compared to the third quarter of 2020. Reported net income was $2.40 per share for the third quarter of 2021, and adjusted net income (3) , which excludes restructuring expenses, was $2.41 per share. These results compare to reported and adjusted net income of $2.09 per share for the third quarter of 2020. Net sales for the first nine months of 2021 were approximately $8.0 billion, an increase of approximately 24.1% compared to the same period in 2020. Excluding favorable currency translation impacts of approximately 4.5%, net sales for the first nine months of 2021 increased approximately 19.6% compared to the same period in 2020. For the first nine months of 2021, reported net income was $8.11 per share, and adjusted net income (3) , excluding restructuring expenses and the reversal of a valuation allowance previously established against the Company's deferred tax assets in the United States, was $7.30 per share. These results compare to reported net income of $3.86 per share, and adjusted net income (3) , excluding a non-cash impairment charge and restructuring expenses, of $4.06 per share for the first nine months of 2020. Highlights *Reported regional sales results (1) : Europe/Middle East ("EME") +4.0%, North America +9.7%, South America +39.9%, Asia/Pacific/Africa ("APA") +2.2% *Constant currency regional sales results: EME +3.1%, North America +8.5%, South America +36.6%, APA (2.1)% Regional operating margin performance: EME 13.1%, North America 5.6%, South America 11.6%, APA 11.9% *Revised full-year outlook for net sales and net income per share due to supply chain disruptions To read the entire report click here. Tweet |
|
|
|
|
|
|
|
|
|||||||||||||
