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

More Breaking News

0 Articles
Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT