AGCO Corp shares tumbled 5.30% in pre-market trading after the agricultural equipment manufacturer released its second-quarter financial results, which fell short of analysts' expectations.

The company reported adjusted earnings per share of $1.43, missing the consensus estimate of $1.48. Revenue also disappointed, coming in at $2,609.7 million against a projected $2,753 million. The misses on both the top and bottom lines appeared to trigger the sell-off among investors.

While the company did post a net income of $74.8 million and an operating income of $140.7 million, the weaker-than-expected sales and earnings figures dominated market sentiment, leading to the sharp pre-market decline.