AGCO Corporation’s AGCOadjusted earnings improved significantly to 35 cents per share in first-quarter 2018, against a loss of 2 cents per share posted in first-quarter 2017. Earnings also surpassed the Zacks Consensus Estimate of 11 cents, by a wide margin of 218%.
Including restructuring and other infrequent expenses, the company reported earnings of 30 cents per share in the quarter compared to a loss of 13 cents per share reported in the prior-year quarter.
AGCO generated revenues of $2.01 billion, up around 23% from $1.63 billion recorded in the year-ago quarter. Additionally, revenues surpassed the Zacks Consensus Estimate of $1.85 billion. Excluding favorable currency-translation impact of approximately 9.4%, net sales climbed approximately 14% year over year.