AGCO Corp Q3 2023 Earnings Call Summary - Thomson StreetEvents

AGCO Corp Q3 2023 Earnings Call Summary

AGCO Corp Q3 2023 Earnings Call Summary - Thomson StreetEvents
AGCO Corp Q3 2023 Earnings Call Summary
Published Oct 31, 2023
18 pages (10477 words) — Published Oct 31, 2023
Price US$ 54.00  |  Buy this Report Now

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Abstract:

Edited Brief of AGCO.N earnings conference call or presentation 31-Oct-23 2:00pm GMT

  
Brief Excerpt:

...A. AGCO has consistently delivered record results over the last 2 years. B. AGCO delivered $3.5 billion in third quarter sales, nearly 11% higher than the third quarter of 2022. C. Operating margins in the quarter were 12.3% and 12.6% on an adjusted basis. D. That's 190 basis points better than 2022. E. This marks the fifth consecutive quarter with operating margins above 10.5%, which is evidence of how we have structurally transformed our business and further demonstrates the progress we are making towards our mid-cycle 12% operating margin target. F. This strong financial performance reflects the continued success of our Farmer-First strategy, focused on growing our Precision Ag business, globalizing a full line of our Fendt branded products and expanding our parts and service business. G. Our North and South American Fendt sales are ahead of our growth targets as we expand our distribution networks in the regions to give more farmers access to the industry's best equipment. H. Our strategy...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
AGCO Corp
Ticker
AGCO.N
Time
2:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Tami Zakaria - JPMorgan Chase & Co, Research Division - Analyst : So most of my questions have been asked. So just two quick ones. The first one is on fleet age. I think you mentioned it's trending younger. Is it for both tractors and combines that you feel like it's trending younger? And any quantification, like what is the age now versus, let's say, 2, 3 years ago?

Question: Tami Zakaria - JPMorgan Chase & Co, Research Division - Analyst : Got it. That's helpful. And then I think getting -- going into the third quarter, you were expecting flattish production hours. But it seems like it was down 2%. What drove that disconnect? And also, related to that, in the fourth quarter now, it seems like you expect

Table Of Contents

AGCO Corp at Citi Global TMT Conference Transcript – 2024-09-05 – US$ 54.00 – Edited Transcript of AGCO.N presentation 5-Sep-24 3:40pm GMT

AGCO Corp at Jefferies Industrials Conference Transcript – 2024-09-04 – US$ 54.00 – Edited Transcript of AGCO.N presentation 4-Sep-24 12:05pm GMT

AGCO Corp at Morgan Stanley Technology, Media & Telecom Conference Summary – 2024-03-07 – US$ 54.00 – Preliminary Brief of AGCO.N presentation 7-Mar-24 7:10pm GMT

AGCO Corp at Morgan Stanley Technology, Media & Telecom Conference Transcript – 2024-03-07 – US$ 54.00 – Edited Transcript of AGCO.N presentation 7-Mar-24 7:10pm GMT

AGCO Corp Q3 2023 Earnings Call Transcript – 2023-10-31 – US$ 54.00 – Edited Transcript of AGCO.N earnings conference call or presentation 31-Oct-23 2:00pm GMT

AGCO Corp at Morgan Stanley Laguna Conference Summary – 2023-09-12 – US$ 54.00 – Preliminary Brief of AGCO.N presentation 12-Sep-23 8:25pm GMT

AGCO Corp at Morgan Stanley Laguna Conference Transcript – 2023-09-12 – US$ 54.00 – Edited Transcript of AGCO.N presentation 12-Sep-23 8:25pm GMT

AGCO Corp at Jefferies Industrials Conference Summary – 2023-09-07 – US$ 54.00 – Preliminary Brief of AGCO.N presentation 7-Sep-23 6:30pm GMT

AGCO Corp at Jefferies Industrials Conference Transcript – 2023-09-07 – US$ 54.00 – Edited Transcript of AGCO.N presentation 7-Sep-23 6:30pm GMT

AGCO Corp at Citi Global Technology Conference Transcript – 2023-09-06 – US$ 54.00 – Edited Transcript of AGCO.N presentation 6-Sep-23 12:15pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "AGCO Corp Q3 2023 Earnings Call Summary" Oct 31, 2023. Alacra Store. May 03, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-AGCO-Corp-Earnings-Call-B15775654>
  
APA:
Thomson StreetEvents. (2023). AGCO Corp Q3 2023 Earnings Call Summary Oct 31, 2023. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-AGCO-Corp-Earnings-Call-B15775654>
  
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