The company is working to repair its systems, but said business operations could be impacted for several days. In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? A majority of the affected production sites and . Majority of Production Activities Resumed. Cautionary Statements Regarding Forward-Looking Information. The companys shares have appreciated 14.8% in a year.Packaging Corporation has an expected earnings growth rate of 16.2% for 2022. DULUTH, Ga., May 16, 2022--AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that the Company's. 4-min read AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack. Majority of Production Activities Resumed. A ransomware attack has disrupted production at AGCO, a major US provider of farming equipment, including tractors and harvesters. The Company will provide updates as the situation progresses," said AGCO. The Company also reported that there had been data exfiltration as a result of the ransomware cyber attack. The company expects to diminish the production loss from the ransomware cyber-attack by increasing production over the remainder of the current year.Earlier this month, AGCO Corporation reported first-quarter 2022 results. Powered by Fuse smart farming solutions, AGCOs full line of equipment and services help farmers sustainably feed our world. With rest of the sites likely to . A majority of the affected production sites and parts operations resumed operational activities last week or today. The improved profitability will likely support incremental investments in engineering and other technology to advance AGCOs precision agriculture and digital initiatives. (770) 232-8229 www.AGCOcorp.com The Zacks Consensus Estimate for the current years earnings has moved up 4.2% in the past 60 days.PKG has a trailing four-quarter earnings surprise of 19.6%, on average. AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that the Companys efforts to restore systems and business operations are continuing successfully following a ransomware cyber attack that was discovered on May 5, 2022. Through well-known brands including Challenger, Fendt, GSI, Massey Ferguson and Valtra, AGCO Corporation delivers agricultural solutions to farmers worldwide through a full line of tractors, combine harvesters, hay and forage equipment, seeding and tillage implements, grain storage and protein production systems, as well as replacement parts. DULUTH, Ga. AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that the company's efforts to restore systems and business operations are continuing successfully following a ransomware cyber attack that was discovered on May 5, 2022. Reuters. For ourselves. The company expects to diminish the production loss from the ransomware cyber-attack by increasing production over the remainder of the current year. For more information, visit www.AGCOcorp.com. The remainder of the sites are expected to begin operations during the balance of this week, such that all factories and parts operations are operating by the end of this week. AGCO put out a short statement on its website disclosing the ransomware attack, and confirmed it continues to impact some of production facilities. U.S. agricultural equipment maker AGCO Corp said on Friday a ransomware attack was affecting operations at some of its production facilities, and dealers said tractor sales had been stalled during the crucial planting season. The Zacks Consensus Estimate for 2022 earnings has moved north by 0.8% in the past 60 days.Avery Dennison delivered a trailing four-quarter earnings surprise of 5.3%, on average. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident on May 5.AGCO Corporations most affected production sites and parts operations restarted operational activities. The company confirmed the incident today after media in France . A majority of the affected production sites and parts operations resumed operational activities last week or today. Type a symbol or company name. This, in turn, will drive AGCOs top line. AGCO said it is still investigating the extent of the attack, but it is anticipated its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the company is able to repair its systems. Cautionary Statements Regarding Forward-Looking Information. Powered by Fuse smart farming solutions, AGCOs full line of equipment and services help farmers sustainably feed our world. Global manufacturer and distributor of agricultural equipment, AGCO, announced a ransomware attack hit it. Although damage from the ransomware cyber attack could require more in-depth, and lengthy, remediation and recovery than is currently expected, the Company currently expects to be able to mitigate the production loss from the ransomware cyber attack by increasing production over the remainder of 2022. All Rights Reserved. (770) 232-8229 Our expectations with respect to recovering from the ransomware cyber attack are forward-looking statements, and actual result may differ materially from our current expectations for a number of reasons, including the possibility that the damage to our systems is more extensive than we understand, that we may be subject to further follow-on ransomware cyber attacks, and that our recovery may take longer than expected. May 07, 2022, 13:39 IST. Agricultural equipment giant AGCO says its business operations have been impacted after falling victim to a ransomware attack last week. https://www.businesswire.com/news/home/20220506005290/en/, Fendt 728 Vario wins "Tractor of the Year 2023, Massey Ferguson MF 5S Series Wins Farm Machine 2023 Award at SIMA Show, Fendt 728 Vario named "Farm Machine 2023", Notice of Collection for California Residents, Implements, Attachments & Material Handling. The Zacks Consensus Estimate for the current years earnings has moved up 4.2% in the past 60 days.PKG has a trailing four-quarter earnings surprise of 19.6%, on average. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. Type a symbol or company name. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $11.1 billion in 2021. the complete list of todays Zacks #1 Rank stocks here. 4 min read AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack. Want the latest recommendations from Zacks Investment Research? This, in turn, will drive AGCOs top line. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $11.1 billion in 2021. AGCO Corp's (AGCO) most production sites and parts operations that had been impacted by ransomware cyber-attack have restarted operational activities. 17, 2022, 11:51 AM. Cautionary Statements Regarding Forward-Looking Information. AVY has long term earnings growth rate of 7%. AGCO, headquartered in Duluth, Georgia, de For financial news on Twitter, please follow the hashtag #AGCOIR. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $11.1 billion in 2021. greg.peterson@agcocorp.com, Internet Explorer presents a security risk. It also contributed to labor inefficiencies and resulted in higher inventory levels. Please visit our website at Some production facilities of agricultural equipment manufacturer AGCO were affected by a ransomware attack this week, the company reported Friday. duluth, ga., may 16, 2022 -- ( business wire )--agco, your agriculture company (nyse:agco), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced. Gross and operating margins are expected to be higher than the 2021 levels, owing to higher sales and production volumes and the companys pricing actions to mitigate material and labor cost inflation. U.S. agricultural equipment giant AGCO was the victim of a ransomware attack last week that has impacted production. Yet, AGCO is evaluating the possibility and consequences of the data loss. https://www.businesswire.com/news/home/20220516005977/en/, Greg Peterson (770) 232-8229 For financial news on Twitter, please follow the hashtag #AGCOIR. Earlier this month, AGCO Corporation. For the future.. Copy and paste multiple symbols separated by spaces. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Georgia-based AGCO said in a statement it expects operations at some facilities to be affected for . AGCO disclosed this ransomware attack, stating that the business operations will likely be adversely affected for several days and potentially longer to fully resume all services, depending upon how quickly the company can repair its systems. AGCO, locally based out of Hesston, is investigating the attack and is anticipating that business operations will be affected for several days and potentially longer. 08-May-22 06:55 PM IST. Copyright 2022 AGCO Corporation. For the people working for them. Although the leading farm equipment maker does not have retail operations, it does not possess privacy-protected consumer data. The FBI recently warned that ransomware attacks were targeting the agriculture sector in the United States, highlighting two notable cases in 2022. U.S. agricultural equipment maker AGCO Corp said on Friday a ransomware attack was affecting operations at some of its production facilities, and dealers said tractor sales had been stalled during . AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger, Fendt, GSI, Massey Ferguson, Precision Planting and Valtra. For the people working for them. The Company also reported that there had been data exfiltration as a result of the ransomware cyber attack. May. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger, Fendt, GSI, Massey Ferguson, Precision Planting and Valtra. "AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully . Do Not Sell My Personal Information (CA Residents Only). In addition, the company will provide updates as the situation progresses AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems. Create your Watchlist to save your favorite quotes on Nasdaq.com. From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500s +348.7%. 4-min read AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident. For more information, visit These factors will likely drive higher retail industry demand across all three major regions in 2022. AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems. AGCO Update on Ransomware Recovery May 18, 2022 May 18, 2022 Vernon Schmidt ransomware. AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident. AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that the Company's efforts to restore systems and business operations are continuing successfully following a ransomware cyber attack that was discovered on May 5, 2022. Zacks Investment Research, Avery Dennison Corporation (AVY) : Free Stock Analysis Report, AGCO Corporation (AGCO) : Free Stock Analysis Report, Packaging Corporation of America (PKG) : Free Stock Analysis Report, Graphic Packaging Holding Company (GPK) : Free Stock Analysis Report. For company news, information and events, please follow us on Twitter: @AGCOCorp. Cyberattack hit the US agricultural equipment maker, disrupting the company's business operation for days. Zacks Equity Research for AGCO CorporationAGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident on May 5. Today, that discovery is still the heart of the Zacks Rank. AGCO announced today that on May 5, 2022, it was subject to a ransomware attack that has impacted some of its production facilities. AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems. The company expects to diminish the production loss from the ransomware cyber-attack by increasing production over the remainder of the current year.Earlier this month, AGCO Corporation reported first-quarter 2022 results. AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident on May 5.AGCO . AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced today that on May 5, 2022, it was subject to a ransomware attack that has impacted some of its production facilities. AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems. For the farmers. Please visit our website at www.agcocorp.com, Greg Peterson The Company will provide updates as the situation progresses. The company said the attack impacted some of its production facilities. The ransomware attack has disrupt. Click to get this free report Avery Dennison Corporation (AVY) : Free Stock Analysis Report AGCO Corporation (AGCO) : Free Stock Analysis Report Packaging Corporation of America (PKG) : Free Stock Analysis Report Graphic Packaging Holding Company (GPK) : Free Stock Analysis Report To read this article on Zacks.com click here. For the future., Majority of Production Activities Resumed. Theres the field where farmers use our machines. While GPK flaunts a Zacks Rank #1 (Strong Buy), PKG and AVY carry a Zacks Rank #2 (Buy). These factors will likely drive higher retail industry demand across all three major regions in 2022. Follow @ReporterCoker US agricultural equipment manufacturer AGCO has been hit by a ransomware attack, disrupting its operations during the critical planting season. The US Federal Bureau of Investigation reported that at least eight hacks of agriculture companies occurred in the United States in 2021, including grain cooperatives in Iowa and Minnesota that were partially shut down for several weeks as the ransomware hackers demanded seven-figure payments to end their hacking operation. May 6 (Reuters) - U.S. agricultural equipment maker AGCO Corp said on Friday a ransomware attack was affecting operations at some of its production facilities, and dealers said tractor sales had been stalled during the crucial planting season. Powered by Fuse smart farming solutions, AGCOs full line of equipment and services help farmers sustainably feed our world. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 7.6%.Graphic Packaging pulled off a trailing four-quarter earnings surprise of 7.2%, on average. To read this article on Zacks.com click here. Just Released: Zacks Top 10 Stocks for 2022. This week AGCO announced that company efforts to restore systems and business operations are continuing successfully following a ransomware cyber attack that was discovered on May 5, 2022. Industry. Amid the ransomware attack, dealers are now struggling to keep up with orders that were already backlogged, Reuters reported. The companys shares have appreciated 14.8% in a year.Packaging Corporation has an expected earnings growth rate of 16.2% for 2022. On Friday, AGCO, a global manufacturer and distributor of agricultural equipment based in the U.S., including grain bin manufacturer GSI, announced it was subject to a ransomware attack that has impacted some of its production facilities. The agency had issued a similar notice in. 4-min read AGCO Corporation AGCO declared that it is on track to successfully restore systems and business operations impacted by the ransomware cyber-attack incident. The remainder of the sites are expected to begin operations during the balance of this week, such that all factories and parts operations are operating by the end of this week. Avery Dennison Corporation (AVY): Free Stock Analysis Report, AGCO Corporation (AGCO): Free Stock Analysis Report, Packaging Corporation of America (PKG): Free Stock Analysis Report, Graphic Packaging Holding Company (GPK): Free Stock Analysis Report. www.AGCOcorp.com A majority of the affected production sites and parts operations have . UPDATE: AGCO Tells Dealers Which Parts Systems are Online After Ransomware Attack. AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that the Company's efforts to restore systems and business operations are continuing successfully following a ransomware cyber attack that was discovered on May 5, 2022. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The company bears the brunt of supply chain and logistics challenges and material and freight cost inflation. AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced today that on May 5, 2022, it was subject to a ransomware attack that has impacted some of its production facilities.AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and . 4-min read. Our expectations with respect to recovering from the ransomware cyber attack are forward-looking statements, and actual result may differ materially from our current expectations for a number of reasons, including the possibility that the damage to our systems is more extensive than we understand, that we may be subject to further follow-on ransomware cyber attacks, and that our recovery may take longer than expected. AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is . While GPK flaunts a Zacks Rank #1 (Strong Buy), PKG and AVY carry a Zacks Rank #2 (Buy). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2022, Nasdaq, Inc. All Rights Reserved. For financial news on Twitter, please follow the hashtag #AGCOIR. For ourselves. Given favorable market demand and year-over-year strong order levels, AGCO continues to witness a positive market response to its technology-focused products, which are fueling sales growth and margin expansion across all regions.AGCO continues to invest in products, premium technology and smart farming solutions to improve distribution, enhance digital capabilities, expand product lines and improve factory productivity. These factors are likely to impact the companys production and revenues and its Precision Planting sales. These improvements will support AGCOs investments in precision agriculture and digital initiatives, driving higher sales growth and margin. Yet, AGCO is evaluating the possibility and consequences of the data loss. 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