logo
Share SHARE
FONT-SIZE Plus   Neg

CNH Global Q4 Results Top Estimates - Update

Agricultural and construction equipment maker CNH Global NV (CNH) Thursday reported a marginal rise in fourth-quarter profit, amid higher revenues as well as increased expenses. Adjusted earnings and revenues topped Wall Street estimates.

Net income attributable to CNH Global improved to $195 million from $193 million last year. On a per share basis, earnings dropped to $0.78 from $0.80 last year.

Excluding restructuring and exceptional items, earnings per share were $0.92, while it totaled $0.79 last year. On average, 9 analysts polled by Thomson Reuters expected earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $5.19 billion from $5.04 billion in the prior year. Net sales advanced to $4.93 billion from $4.77 billion last year. Analysts expected revenues of $4.59 billion for the quarter.

Net sales from equipment operations rose 3 percent to $4.93 billion and the segment's operating profit climbed 18 percent.

Agricultural Equipment sales climbed 9 percent to $4.01 billion while Construction Equipment sales dropped 15 percent to $915 million.

Operating expenses increased to $5.00 billion from $4.87 billion while income tax provision climbed to $26 million from $11 million.

Looking ahead to 2013, the company projects a revenue growth of about 5 percent and sees operating margin between 8.5 percent and 9.0 percent.

CNH closed at $48.31 on Wednesday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
They say there's plenty of fish in the sea, but very few of them are as wealthy as these tycoons. May be they have been so busy building their empires they never had the time to stick with a perfect partner to build their family. This list of the richest singles is assorted — from a 34 year-old... Anthony Levandowski, the head of Uber's self-driving division, is stepping away from his role as Uber continues a legal battle with Waymo, Levandowski's former employer. Levandowski, who founded startup Otto, became head of Uber's Advanced Technologies Group or ATG after Otto was acquired by Uber in August 2016. Southwest Airlines Co. has decided to end the practice of overbooking flights, the airline's CEO Gary Kelly said Thursday. The airline's plan to end overbooking could be implemented from May 8, according to a Southwest spokeswoman.
comments powered by Disqus
Follow RTT