AGCO: Full-Year Profit Prediction
AGCO Corp. issued a full-year profit prediction under Wall Streets expectations, citing an anticipated decline in North American farm equipment sales, the Associated Press reports.
Nevertheless, the company projects sales growth between 20% and 22% over 2007, implying sales of $8.2 billion to $8.33 billion. The company said it expects weak overall economic conditions in North America to hurt sales of low and medium horsepower tractors this year. AGCO said this will be offset by higher international sales.