Farm equipment maker AGCO Corp posted a 54 percent jump in quarterly profit on Thursday, though the company said it is worried that the U.S. drought will dent demand for tractors.
For the second quarter, the company posted net income of $204.9 million, or $2.08 per share, compared with $133.7 million, or $1.36 per share, in the year-ago quarter.
Sales rose 14 percent to $2.69 billion.