CNH Industrial 4Q Profit and Sales Rose Amid Favorable Prices, Higher Volumes
February 02 2023 - 08:41AM
Dow Jones News
By Pierre Bertrand
CNH Industrial NV on Thursday said fourth-quarter profit
increased as its agriculture and construction divisions performed
well and as its sales result was boosted by favorable prices and
higher volumes.
The company said it made $592 million in net profit for the
fourth-quarter compared with $302 million in the prior-year period,
on revenue that grew 27% to $6.94 billion.
CNH achieved diluted earnings per share of $0.43 and adjusted
diluted earnings per share of $0.36, it said.
It added that it intends to recommend an annual cash dividend of
approximately $0.38 per share.
Looking ahead to 2023, CNH said that it is expecting sales
growth of 6% and 10% for its industrial activities.
"We see continuing strength in most end markets, and with better
performing supply chains and moderating inflation we are confident
we will build on our robust foundation," Chief Executive Officer
Scott Wine said.
CNH separately said Thursday that it intends to delist from the
Milan stock exchange to move to a single listing in New York.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
February 02, 2023 08:26 ET (13:26 GMT)
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