Agco Corp (AGCO) Q2 2017 10-Q Quarterly Earnings

Short answer

Agco Corp (AGCO) filed its Q2 2017 10-Q quarterly report on Aug 8, 2017 for the quarter ended Jun 30, 2017.

AI summary of MD&A and risk factor updates

Revenue $2,165.2M, up 8.5% YoY from $1,995.6M, acquisition benefits and regional growth
Operating margin 6.9% vs 5.9% YoY, gross margin 22.0% vs 21.4%
Best region South America, sales $251.9M, up 23.8%; worst North America, sales $478.8M, down 4.0%
Operating cash flow used $66.4M; capital expenditures $92.3M, up from $72.0M
Outlook: 2017 sales, operating income and net income above 2016; North America expected to weaken, South America strengthen

No material changes: 10-Q provided no separate Risk Factors section or updated risk disclosures versus the 2016 10-K
Market risk: softening global agricultural demand and lower production volumes drove manufacturing and administrative workforce reductions
Financial risk: cash fell to $317.8 million while total indebtedness increased to $1,862.5 million
Currency risk: €312.0 million term loan designated as a hedge of foreign operations, exposing results to translation movements
Compliance risk: $155.8 million unrecognized tax benefits, with $50.0 million tied to ongoing audits

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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