AGCO Posts Higher Q4 Profit - Quick Facts

(RTTNews) - AGCO, Your Agriculture Co. (AGCO), a global manufacturer and distributor of agricultural equipment, said its fourth-quarter net income attributable to AGCO Corp. and subsidiaries grew to $139.3 million, or $1.40 a share, from $102.5 million, or $1.04 a share, last year. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $1.43 for the quarter. Analysts' estimates typically exclude one-time items.

The firm reported net sales of about $2.9 billion in the quarter, an increase of around 5.8%, compared with $2.7 billion in the 2012 period. Analysts estimated revenues of $2.90 billion for the quarter. Excluding an unfavorable currency translation impact of about 0.3%, net sales in the 2013 fourth quarter rose by nearly 6.1%, compared with last year, the company noted.

Looking ahead to 2014, AGCO expects earnings per share of about $6.00, and targets net sales in a range from $10.8 billion - $11.0 billion, with forecasted pricing benefits and market share improvements offsetting the impact of the expected industry decline. Analysts project earnings of $5.99 per share, and revenue of $10.87 billion in 2014.