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CNH tops operating profit forecast in Q1 despite Ukraine headwinds
2022.05.03 16:27
FILE PHOTO: Flags with CNH Industrial logo are pictured outside CNH Industrial building in Turin, Italy, February 5, 2020. REUTERS/ Massimo Pinca
MILAN (Reuters) – Agricultural and construction machine maker CNH Industrial (NYSE:CNHI) said on Tuesday its operating profit grew 9% in the first quarter thanks to a “healthy” demand despite headwinds including war in Ukraine and higher energy costs.
The company said its adjusted earnings before interest and tax (EBIT) of industrial activities stood at $429 million in the January-March period. Than topped $391 million forecast in an analyst poll compiled by Reuters.
Milan-listed shares in CNH Industrial extended gains after results were published and by 1240 GMT were up 1.7%.
