Agco Corp (AGCO) Q3 2019 10-Q Quarterly Earnings

Short answer

Agco Corp (AGCO) filed its Q3 2019 10-Q quarterly report on Nov 8, 2019 for the quarter ended Sep 30, 2019.

AI summary of MD&A and risk factor updates

Q3 revenue $2,109.4M, down 4.8% YoY from $2,214.7M, primarily currency translation
Operating margin 5.0% vs 5.0% YoY, gross margin 21.3% vs 21.4%
Best region EME, operating income increased; worst South America, operating losses greater YoY
Operating cash flow $80.2M use through nine months vs $4.0M use; capital expenditures $188.1M vs $138.5M
2019 outlook: modestly lower sales, gross and operating margins expected to improve; headwinds from weak farm economics, trade tensions and currency:VEVENT

No risk-factors section provided, so changes from the 2018 10-K cannot be identified
Liquidity risk: cash fell to $282.0 million while operating activities used $80.2 million
Debt risk: current liabilities included $229.7 million short-term borrowings and $218.0 million senior term loan
Market risk: foreign-currency translation reduced comprehensive income by $46.1 million year-to-date
Operational risk: inventories increased to $2,311.3 million from $1,908.7 million at December 31, 2018

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

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