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BRIEF-AGCO reports Q1 earnings per share $0.09
April 27, 2016 / 1:07 PM / 2 years ago

BRIEF-AGCO reports Q1 earnings per share $0.09

April 27 (Reuters) - AGCO Corp

* Q1 sales $1.6 billion versus I/B/E/S view $1.47 billion

* Q1 earnings per share $0.09

* Q1 earnings per share view $0.06 -- Thomson Reuters I/B/E/S

* AGCO reports first quarter results

* Sees FY 2016 earnings per share about $2.30 excluding items

* Sees FY 2016 sales $7.0 billion

* Quarterly dividend increased 8 pct to $0.13, effective Q1 of 2016

* “Q1 results reflect impact of lower production to manage dealer and company inventory levels in advance of spring selling season”

* Lower industry demand for farm equipment across all regions is expected to continue to negatively impact sales,earnings for remainder of 2016

* “growing global grain stocks are pressuring commodity prices, and estimates call for 2016 farm income to remain below 2015 levels”

* Fy2016 earnings per share view $2.31 -- Thomson Reuters I/B/E/S

* Fy2016 revenue view $6.85 billion -- Thomson Reuters I/B/E/S

* AGCO Corp says 2016 gross and operating margins are expected to be below 2015 levels

* Company entered into two term loan agreements with Rabobank, in amount of EUR100.0 million and EUR200.0 million, respectively Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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