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Nick Hargrave.
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July 27, 2023 at 11:42 am #5216
Nick Hargrave
KeymasterVery strong Q2 results reported by AGCO with 30% revenue growth, a record 13% operating margin and raised full year outlook which remains ahead of our expectations. Continued robust demand for their precision ag and premium equipment is driving revenues and margins both through retro-fit and new products. Growth across all regions is encouraging but we must note some caution with their statement “Commodity prices remain at supportive levels, but the recent volatility, due to uncertainty of current year crop production in the northern hemisphere, has influenced farmer sentiment of late.”
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