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CNH tops operating profit forecast in Q1 despite Ukraine headwinds -Breaking


© Reuters. FILE PHOTO – Flags bearing the CNH Industrial logo were pictured at CNH Industrial Building in Turin (Italy), February 5, 2020. REUTERS/ Massimo Pinca

MILAN, (Reuters) – CNH Industrial (NYSE :), an industrial and agricultural machine maker, announced Tuesday it saw a 9% increase in operating profits in its first quarter due to a healthy demand despite adverse conditions like war in Ukraine or higher energy costs.

In the January-March period, company’s adjusted earnings (before interest and taxes) for industrial activities reached $429 millions. The company exceeded the $391million forecast by Reuters analysts.

CNH Industrial, Milan listed shares, extended gains after the publication of results. By 1240 GMT they were up 1.7%