AGCO Beats Up on Analysts Yet Again
AGCO (NYS: AGCO) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), AGCO beat expectations on revenues and crushed expectations on earnings per share.
Compared with the prior-year quarter, revenue grew significantly and GAAP earnings per share improved significantly.
Margins increased across the board.
AGCO booked revenue of $2.27 billion. The 13 analysts polled by S&P Capital IQ expected to see sales of $2.06 billion on the same basis. GAAP reported sales were 26% higher than the prior-year quarter's $1.80 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.21. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.86 per share. GAAP EPS of $1.21 for Q1 were 49% higher than the prior-year quarter's $0.81 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.7%, 190 basis points better than the prior-year quarter. Operating margin was 7.5%, 140 basis points better than the prior-year quarter. Net margin was 5.3%, 80 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.67 billion. On the bottom line, the average EPS estimate is $1.62.
Next year's average estimate for revenue is $9.90 billion. The average EPS estimate is $5.07.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 272 members out of 297 rating the stock outperform, and 25 members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 62 give AGCO a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AGCO is hold, with an average price target of $56.27.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.