Agricultural machinery manufacturer AGCO Corp saw its shares rise nearly 4% in pre-market trading on Friday after reporting third-quarter results that exceeded expectations.
The company posted adjusted earnings per share of $1.35 and revenue of $2.48 billion for the quarter, surpassing analyst estimates of $1.22 per share and $2.46 billion in revenue surveyed by FactSet.
AGCO also raised its full-year guidance to approximately $5.00 per share, compared with its previous forecast range of $4.75 to $5.00. According to FactSet data, this also exceeded the market consensus estimate of $4.79 per share.
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