Investor meeting doesn't go well for AGCO

The announcement of a $500M share repurchase program isn't enough to save the day for AGCO (AGCO -4.4%) after management - at this morning's Investor Meeting - expects headwinds to hitting $6 per share in earnings this year, and sees $6/share as likely in 2014.

Industry unit tractor sales are expected to fall 0-5% in North America, 5% in South America (amid an early end to Brazilian price supports), and 0-5% in Western Europe.

Presentation slides set #1, set #2

Deere (DE -0.6%) slips a bit, but AGCO has outperformed by more than 1,500 basis points this year.

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