CNH Industrial Raises Full-year Revenue Forecast After Strong Q3

2022-11-12T01:21:01Z

AlissaBaldwinson: Created page with "FY sales of industrial activities new seen up 16-18% * Co confirmed forecast for [https://telecharger1win.com/ telecharger 1win ios] cash generation above $1 bln ..."

FY sales of industrial activities new seen up 16-18% * Co confirmed forecast for [https://telecharger1win.com/ telecharger 1win ios] cash generation above $1 bln * CEO says supply chain challenges will persist * Adj. EBIT rose to $670 mln in Q3, above forecasts * Margin on adj. EBIT up 270 basis points in Q3 to 12.4% (Retops after analyst call) MILAN, Nov 8 (Reuters) - Farming and construction machine maker CNH Industrial is betting on strong demand in agricultural business and pricing power to counter inflation effects and a still-challenging supply chain situation as it raised forecasts for this year's revenue. Presenting on Tuesday an above-estimates operating profit for the third quarter, CEO Scott Wine said order books remained "robust" as prices for soft commodities continued to support global agriculture and many construction end markets sustained their strength. "Indications are still for a strong cycle in agriculture, with sustained demand for most products," Wine said. "We are closely watching for any recession-related shifts in purchasing behaviour," he added. Wine said prices of soft commodities declined in the third quarter but remained above pre-pandemic and end-2021 levels. CFO Oddone Incisa told analysts the company expected to be able to maintain pricing levels into next year. Milan-listed shares in CNH Industrial rose as much as 7% on Tuesday after the Italian-American manufacturer said net sales of industrial activities would grow between 16-18% this year, despite foreign exchange rates headwinds, versus a previous forecast for growth of between 12-14%. They closed up 5.7%. Wine said however that coming quarters would still be complicated, amid "significant" challenges persisting with global supply chains, despite ongoing modest improvements, currency volatility and inflation which he described as "relentless". In the third quarter, CNH's adjusted earnings before interest and tax (EBIT) of industrial activities rose to $670 million from a pro-forma $420 million a year earlier, when truckmaking business Iveco was still part of the group. That topped analyst expectations of $502 million, based on a Reuters poll. Agriculture business accounted for over 80% of CNH's industrial revenues in the quarter and for virtually all of its operating earnings. Increased production costs weighed on the quarter's result for $539 million, but they were more than offset by a positive effect from net pricing worth $723 million, the company said. Margin on adjusted EBIT rose 270 basis points in the quarter, to 12.4%. (Reporting by Giulio Piovaccari, Editing by Cristina Carlevaro, Jane Merriman, Tomasz Janowski and Andrea Ricci)

User:AlissaBaldwinson

2022-11-12T01:20:54Z

AlissaBaldwinson: Created page with "DUBAI, United Arab Emirates (AP) - The United States and Portugal have the inside running on qualifying for the 2023 Rugby World Cup after bonus-point wins in the last qualify..."

DUBAI, United Arab Emirates (AP) - The United States and Portugal have the inside running on qualifying for the 2023 Rugby World Cup after bonus-point wins in the last qualifying tournament on Sunday. The U.S. beat Kenya 68-14 and Portugal defeated Hong Kong 42-14 at the Sevens Stadium in the first round-robin games. The Americans have missed only one World Cup and showed their intent with try hat tricks for hooker Dylan Fawsitt and winger Christian Dyer. The Eagles scored 10 tries in all in their highest score outside of the Americas. Hong Kong scored first against Portugal from a rolling maul. But Portugal quickly found gaps to post three converted tries in the half to lock Jose Madeira, wing Raffaele Storti and Miguel Morais. Even with a man sin-binned, Portugal was unrelenting, with tries in the second half for Rodrigo Marta, Storti again, and Jose Lima. Hong Kong's Jack Neville barged across for a consolation try, but Portugal was a step closer to qualifying for a first Rugby World Cup since 2007. The winner of the tournament will claim the 20th and last berth in the World Cup in France. In the next round on Saturday, Portugal plays Kenya and the U.S. faces Hong Kong. ___ More AP rugby: website and website Look at my webpage :: [https://telecharger1win.com/ telecharger 1win ios]

The Wiki Camp 2 - User contributions [en]

CNH Industrial Raises Full-year Revenue Forecast After Strong Q3

User:AlissaBaldwinson