ORRTEC
16 years ago
CNH Reports Record Second Quarter Net Income of $347 Million, Up 52%, Highest Quarterly Results in CNH History
CNH Reports Record Second Quarter Net Income of $347 Million, Up 52%, Highest Quarterly Results in CNH History
Titan Machinery Added to Russell 2000(R) Index
Cummins, Fiat Group Subsidiaries Announce Realignment of Shareholder Structure
*Revised* Analyst Reports for SNC-Lavalin, Cinch Energy Corp., Peregrine Metals Ltd., and First Quantum Minerals Ltd.
Merrill Lynch Upgrades CNH Global (CNH) to Neutral
July 23, 2008 2:00 AM EDT
BURR RIDGE, IL -- (MARKET WIRE) -- 07/23/08 -- CNH Global NV (NYSE: CNH):
-- Robust agricultural industry sales and market share gains drove net
sales of equipment to $5.3 billion, up 29%
-- Pricing actions offset higher input costs, primarily steel
-- Agricultural Equipment Gross Margin improved
-- Construction Equipment revenues up almost 50% in Latin America and
Rest-of-World more than offsetting soft markets in North America and
Western Europe
-- Revenue growth and cost discipline contributed to record Equipment
Operations Operating Margin of 11.1%
-- Financial Services net income up 21%
-- Full year 2008 financial outlook tightened, with expected range of
diluted EPS before restructuring, after tax, forecasted to be $3.40 to
$3.60
Robust sales growth in the agricultural equipment business combined with favorable product sales mix were the primary drivers of CNH's diluted earnings per share growth of 52% for the second quarter of 2008 compared to the second quarter of 2007. Continued strong agriculture equipment industry growth and new product introductions, coupled with an emphasis on quality and disciplined supply chain management, lay the groundwork for solid future top line and earnings growth.
Here's the link from early today am.
CNH had two days of confirmed buys from American bull.com. Today is a sell if.