Iveco says supply issues to peak as operating profit tops estimates in Q1
MILAN (Reuters) -Italy's Iveco said on Tuesday the negative effects of supply chain disruptions would peak this quarter after its operating profit topped estimates in the first three months of the year thanks to its performance in light commercial vehicles and buses.
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MILAN (Reuters) - Truckmaker Iveco said on Tuesday its operating profit topped estimates in the first quarter of this year, in its first set of results as a stand-alone company.
The Italian group said its adjusted earnings before interest and tax (EBIT) of industrial activities came at 82 million euros ($88 million) in the January-March period, versus a 116 million euro pro-forma result one year earlier, when the company was still part of CNH Industrial.
That compares with an analyst consensus of 37 million euros reported by Intesa Sanpaplo.
Milan-listed shares in Iveco turned positive after results were published to gain 5.5% by 1210 GMT.
($1 = 0.9369 euros)
Reporting by Giulio Piovaccari, editing by Cristina Carlevaro
