AGCO Corp. (NYSE:AG) is expected to report Q3 earnings before market open Wednesday Oct. 29, with a conference call scheduled for 10:00 am.
Analysts are looking for EPS of 78c on revenue of $2.03B. The consensus range is 69c to 83c for EPS, and $1.92B to $2.09B for revenue, according to First Call. The company raised its FY08 EPS guidance when it reported its Q2 earnings. AGCO now expects FY08 EPS of $3.60 to $3.70, up from $3.00 to $3.15 vs. consensus of $3.81. The company also expects FY08 revenue growth of 26% to 28% year-over-year.
AGCO stated at the J.P. Morgan Basics & Industrials conference that it expects FY08 cap ex of $190M to $200M. This month AGCO was downgraded to Neutral from Buy at Goldman Sachs. The firm downgraded the company citing expectations for reduced farmer income and equipment orders.