Benzinga | Apr 29, 2021 07:53AM EDT

AGCO Sees FY21 EPS $8.40-$8.60 vs $8.36 Est., Sales $10.6B-$10.8B vs $10.77B Est.

AGCO's net sales for 2021 are expected to range from $10.6 billion to $10.8 billion, reflecting improved sales volumes, pricing and positive foreign currency translation. Gross and operating margins are projected to improve from 2020 levels, reflecting the impact of higher sales and production volumes as well as margin improvement initiatives. These improvements are planned to fund increases in engineering and other technology investments to support AGCO's precision agriculture and digital initiatives. Based on these assumptions, 2021 earnings per share is targeted in a range from $8.40 to $8.60.