CNH Industrial beats by $0.01, beats on revs; reaffirms FY17 guidance
- Reports Q1 (Mar) earnings of $0.04 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.03; revenues rose 5.8% year/year to $5.68 bln vs the $5.43 bln Capital IQ Consensus. Industrial Activities revenues up 6.1% (up 6.5% on a constant currency basis) driven by demand for agricultural equipment in the LATAM region, and in the Commercial Vehicles and Powertrain segments Operating profit of Industrial Activities at $219 million, an increase of 23%, at an operating margin of 4.1% driven by volume leverage in Agricultural Equipment and Powertrain.
- Co reaffirms guidance for FY17, sees EPS of $0.39-0.41, excluding non-recurring items, vs. $0.38 Capital IQ Consensus Estimate; sees FY17 industrial revs of $23-24 bln, may not be comparable to $24.98 bln Capital IQ Consensus Estimate