AGCOs Sales/Net Income Up 9%
AGCO, Dulth-GA, reported net sales of approximately $2.5 billion during the third quarter of 2013, an increase of approximately 7.9%, compared to net sales of $2.3 billion for the third quarter of 2012.
Net sales grew 8.9% in AGCO’s N. American region during the first nine months of 2013 compared to 2012, excluding the negative impact of currency translation.
Sales were strongest in the row crop segment, with the most significant increases in high horsepower tractors, sprayers and implements. Increased sales, a favorable product mix and margin improvement initiatives contributed to growth in income from operations of $65.9 million for the first nine months of 2013 compared to the same period in 2012.
The company said global industry demand is expected to be relatively flat in 2013 compared to 2012. Strong growth is projected in S. America, modest growth is forecasted in N. America and modest declines are anticipated for Western Europe.