Last $56.10 USD
Change Today +1.65 / 3.03%
Volume 2.7M
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As of 8:04 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

agco corp (AGCO) Key Developments

AGCO Corporation Presents at Bank of America Merrill Lynch Global Industrials & EU Autos Conference, Mar-18-2014 01:55 PM

AGCO Corporation Presents at Bank of America Merrill Lynch Global Industrials & EU Autos Conference, Mar-18-2014 01:55 PM. Venue: Bank of America Merrill Lynch Financial Centre, 2 King Edward Street, London EC1A 1HQ, United Kingdom. Speakers: Andrew H. Beck, Chief Financial Officer, Chief Accounting Officer and Senior Vice President.

AGCO Corporation Presents at The Barclays Industrials Select Conference, Feb-20-2014 03:00 PM

AGCO Corporation Presents at The Barclays Industrials Select Conference, Feb-20-2014 03:00 PM. Venue: The Loews Miami Hotel, Miami, Florida, United States. Speakers: Andrew H. Beck, Chief Financial Officer, Chief Accounting Officer and Senior Vice President.

AGCO Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014

AGCO reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of $2,859.7 million against $2,703.4 million a year ago. Income from operations was $197.2 million against $118.9 million a year ago. Income before income taxes and equity in net earnings of affiliates was $164.5 million against $94.3 million a year ago. Income before equity in net earnings of affiliates was $125.8 million against $87.4 million a year ago. Net income attributable to the company and subsidiaries was $139.3 million or $1.40 per diluted share against $102.5 million or $1.04 per diluted share a year ago. For the full year, the company reported net sales of $10,786.9 million against $9,962.2 million a year ago. Income from operations was $900.7 million against $693.2 million a year ago. Income before income taxes and equity in net earnings of affiliates was $802.6 million against $600.8 million a year ago. Income before equity in net earnings of affiliates was $544.1 million against $462.9 million a year ago. Net income attributable to the company and subsidiaries was $597.2 million or $6.01 per diluted share against $522.1 million or $5.30 per diluted share a year ago. Net cash provided by operating activities was $797.0 million against $666.4 million a year ago. Purchases of property, plant and equipment were $391.8 million against $340.5 million a year ago. The company provided earnings guidance for the first quarter and full year of 2014. For the year, the company is projecting sales relatively flat compared to 2013 with the impact of softer market conditions expected to be offset by pricing and modest market share gains. The company expects to continue to improve gross margins from 2013 levels as the benefit of pricing and the company’s cost-reduction projects are expected to be partially offset by a weaker product mix. The company is targeting 2014 earnings per share of approximately $6 per share. The company expects 2014 capital expenditures to be in the $400 million and $425 million range, and free cash flow to exceed $250 million after funding the elevated level of capital expenditures. The company is targeting an effective tax rate of approximately 34% to 35% for 2014. The company expects first quarter 2014 sales volumes to be down, primarily due to a slower start to the year, particularly in Brazil due to the delayed opening of the FINAME program and in Europe to allow for modest adjustments in dealer and company inventory levels. These impacts, along with a weaker sales mix, are expect to result in first quarter 2014 earnings per share in the range of $0.70 to $0.75 per share.

AGCO Corporation Declares Increased Quarterly Dividend, Payable on March 14, 2014

AGCO Corporation declared an increase of 10% in the company's quarterly dividend, beginning in the first quarter of 2014. The dividend increase will result in a quarterly dividend of $0.11 per common share to be paid on March 14, 2014 to all stockholders of record as of the close of business on February 14, 2014.

AGCO Corporation, Q4 2013 Earnings Call, Feb 04, 2014

AGCO Corporation, Q4 2013 Earnings Call, Feb 04, 2014

 

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AGCO

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Valuation AGCO Industry Range
Price/Earnings 9.1x
Price/Sales 0.5x
Price/Book 1.3x
Price/Cash Flow 7.9x
TEV/Sales 0.3x
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