08:14 AM EDT, 07/30/2024 (MT Newswires) -- AGCO ( AGCO ) reported Q2 adjusted earnings Tuesday of $2.53 per share, down from $4.29 a year earlier.

Analysts polled by Capital IQ expected $2.96.

Net sales for the quarter ended June 30 were $3.25 billion, down from $3.82 billion a year earlier.

Analysts polled by Capital IQ expected $3.48 billion.

The company said it now expects 2024 adjusted EPS of $8 on net sales of $12.50 billion. The company previously guided for adjusted EPS of $12 on net sales of $13.50 billion.

Analysts polled by Capital IQ expect normalized EPS of $11.14 and revenue of $13.16 billion.

Shares of the company were down more than 5% in recent premarket activity.

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