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Why Agco Stock Just Popped 7.5%

TheMotleyFool

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Shares of tractor maker Agco (NYSE: AGCO) plowed ahead on Tuesday morning, up 7.5% as of 10:15 a.m. ET after shredding Wall Street's best guess at what it would earn in the fourth quarter of 2021.

Heading into the quarterly profits report, analysts had forecast this agricultural equipment stock would earn $1.77 per share (pro forma) on sales of $3.1 billion. In fact, the company reported today that it earned $3.08 per share on sales of $3.2 billion -- 74% better than forecast.

Image source: Getty Images.

Source Fool.com

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