 |
| CLICK HERE TO VIEW CURRENT ISSUE |
 |
| Best of NAMA 2025 |
|
 |
|
FULL YEAR: AGCO'S SALES UP 22%, EARNINGS DOUBLE
Feb. 8, 2022
Source: AGCO news release
AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment and solutions, reported net sales of approximately $3.2 billion for the fourth quarter of 2021, an increase of approximately 16.1% compared to the fourth quarter of 2020.
Reported net income was $3.75 per share for the fourth quarter of 2021, and adjusted net income (3) , which excludes restructuring expenses and the reversal of a valuation allowance previously established against the Company's deferred tax assets in Brazil, was $3.08 per share. These results compare to reported net income of $1.78 per share and adjusted net income (3) , which excludes restructuring expenses and a gain on sale of an investment, of $1.54 per share for the fourth quarter of 2020.
Excluding unfavorable currency translation impacts of approximately 3.2%, net sales in the fourth quarter of 2021 increased approximately 19.3% compared to the fourth quarter of 2020.
Net sales for the full year of 2021 were approximately $11.1 billion, which is an increase of approximately 21.7% compared to 2020. Excluding favorable currency translation impacts of approximately 2.2%, net sales for the full year of 2021 increased approximately 19.6% compared to 2020.
For the full year of 2021, reported net income was $11.85 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 and Brazil, was $10.38 per share. These results compare to reported net income of $5.65 per share and adjusted net income (3) , which excludes a non-cash impairment charge, restructuring expenses and a gain on sale of an investment, of $5.61 per share for 2020.
To read the entire report click here.
|
|
|
|
|
