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CHICAGO, Feb 9 (Reuters) - Agco Corp. (AG.N: Quote, Profile , Research), the U.S. farm equipment maker that warned on Friday that its first-quarter results would disappoint, said problems at a German engine supplier were partially to blame for the reduced earnings forecast.
The Duluth, Georgia-based company said machining issues at Deutz AG (DEZG.DE: Quote, Profile , Research) were creating bottlenecks in the production of Agco's Fendt brand tractors that were lasting longer than expected.
The statement came during a conference call with analysts to talk about Agco's fourth-quarter results and its outlook for the first quarter.
In a statement prior to the call, Agco had warned that its first-quarter results would "be break-even to a slight loss," well below the 20 cent a share profit analysts expected according to Reuters Estimates, because of unspecified "supplier constraints."
The Duluth, Georgia-based company said machining issues at Deutz AG (DEZG.DE: Quote, Profile , Research) were creating bottlenecks in the production of Agco's Fendt brand tractors that were lasting longer than expected.
The statement came during a conference call with analysts to talk about Agco's fourth-quarter results and its outlook for the first quarter.
In a statement prior to the call, Agco had warned that its first-quarter results would "be break-even to a slight loss," well below the 20 cent a share profit analysts expected according to Reuters Estimates, because of unspecified "supplier constraints."
