Reports Q1 revenue $3.33B, consensus $3.16B. "With continued execution of our strategy, AGCO delivered robust sales growth and margin expansion in the first quarter as healthy farm economics continued to support elevated global demand," stated Eric Hansotia, AGCO’s chairman, president and CEO. "Our solid operational performance, continued pricing actions and a stabilizing supply chain all contributed to the excellent first quarter results. The 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, is generating strong growth in these margin-rich businesses. AGCO’s order board remains extended, increasing our confidence in the success of our products and the strength of large ag demand."
Published first on TheFly
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