Shares of AGCO Corp (NYSE:AGCO) soared 5.26% in pre-market trading on Thursday following the release of the company's first-quarter earnings report, which significantly exceeded analyst expectations.
The agricultural equipment manufacturer reported adjusted earnings per share of $0.41 for Q1 2025, surpassing the analyst consensus estimate of $0.09 by an impressive 355.56%. This strong performance came despite a challenging year-over-year comparison, as earnings decreased by 82.33% from $2.32 per share in the same period last year.
AGCO's quarterly sales were in line with expectations, coming in at $2.05 billion. While this figure met analyst estimates, it represented a 30.01% decrease compared to the $2.93 billion reported in the first quarter of the previous year. Despite the year-over-year decline in both earnings and revenue, investors appear to be reacting positively to AGCO's ability to outperform in a challenging environment, as evidenced by the substantial earnings beat.