(Reuters) — Agco Corp. posted a lower quarterly profit on Tuesday as growers around the globe, faced with falling prices for farm commodities, purchased fewer tractors and harvesters.
The company, which makes equipment sold under the Challenger, Fendt, Massey Ferguson and Valtra brand names, reported a third-quarter net profit of US$65 million, or 69 cents a share, down from $125.2 million, or $1.27 a share, during the comparable quarter last year.
Revenue fell 13 percent to $2.2 billion.
