Agco Corp (AGCO) Q2 2018 10-Q Quarterly Earnings

Short answer

Agco Corp (AGCO) filed its Q2 2018 10-Q quarterly report on Aug 8, 2018 for the quarter ended Jun 30, 2018.

AI summary of MD&A and risk factor updates

Quarterly revenue $2,537.6M, up 17.2% YoY from $2,165.2M
Operating margin 6.6% vs 6.9% YoY, gross margin 21.9% vs 22.0%
Best region EME revenue $1,545.2M, up 21.7%; weakest South America revenue $219.6M, down 12.8%
Operating cash flow six months used $204.3M vs $66.4M; capital expenditures $89.8M
2018 outlook: sales, operating income and net income above 2017; headwinds from weather, tariffs, raw materials and South American demand

Newly triggered Argentine hyperinflation risk: peso devaluation drove functional-currency change to U.S. dollar effective July 1, 2018
Financial risk: short-term borrowings increased to $197.7 million from $90.8 million at December 31, 2017
Currency risk: foreign-currency translation loss reached $180.7 million for six months ended June 30, 2018
Regulatory risk: ongoing tax audits covered $56.6 million of uncertain tax positions due for settlement within 12 months
Operational risk: inventory increased to $2,131.9 million from $1,872.9 million, heightening exposure to weaker agricultural demand

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

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