By Paulo Trevisani

AGCO Corp. said Tuesday it expects foreign currency translations to curb sales growth this year, after hurting first-quarter results.

The Duluth, Ga., maker of agricultural equipment reported sales of $2.7 billion in the quarter, up 12.9% from a year earlier, including an FX headwind of around 5%.

The company forecast full-year 2022 sales of $12.5 billion to $12.7 billion, reflecting increased sales volumes and pricing partially offset by negative foreign currency translation.

Its previous full-year sales outlook was $12.3 billion.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

May 03, 2022 09:19 ET (13:19 GMT)

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