CNH tops Q1 profit forecast despite Ukraine, supply headwinds
MILAN (Reuters) -Agricultural and construction machine maker CNH Industrial said on Tuesday its operating profit rose 9% in the first quarter as demand remained healthy despite headwinds including war in Ukraine and higher energy costs.
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MILAN (Reuters) - Agricultural and construction machine maker CNH Industrial 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%.
Reporting by Giulio Piovaccari, editing by Cristina Carlevaro
