09:39 AM EDT, 05/02/2024 (MT Newswires) -- AGCO ( AGCO ) reported Q1 adjusted net income Thursday of $2.32 per share, down from $3.51 a year earlier.

Analysts polled by Capital IQ expected $2.32.

Net sales for the quarter ended March 31 were $2.93 billion, down from $3.33 billion a year earlier.

Analysts surveyed by Capital IQ expected $3.02 billion.

The company said it now expects 2024 adjusted earnings of $12 per share on net sales of $13.5 billion, compared with prior guidance of adjusted earnings of $13.15 per share on net sales of $13.6 billion. Analysts surveyed by Capital IQ expect adjusted earnings of $12.89 per share on net sales of $13.61 billion.

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