Agco (AGCO) Q3 Earnings and Revenues Miss Estimates

Company Performance - Agco reported quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $1.07 per share, and a significant decline from $3.97 per share a year ago, representing an earnings surprise of -36.45% [1] - The company posted revenues of $2.6 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 10.37%, and down from $3.46 billion year-over-year [2] - Over the last four quarters, Agco has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Stock Outlook - Agco shares have declined approximately 19.4% since the beginning of the year, contrasting with the S&P 500's gain of 19.8% [3] - The current consensus EPS estimate for the upcoming quarter is $1.91 on revenues of $3.37 billion, and for the current fiscal year, it is $7.87 on revenues of $12.45 billion [7] Industry Context - The Manufacturing - Farm Equipment industry, to which Agco belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, indicating a challenging environment [8] - Empirical research suggests that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1, highlighting the potential impact of industry performance on Agco's stock [8]