CNH Industrial rises around 4% after hiking 2023 sales guidance
08/05/2023 10:23
** Milan-listed shares in CNH Industrial CNHI.MI rise as
much as 3.7% after the company on Friday raised its 2023 revenue
guidance as it reported better-than expected Q1 results
** The agricultural and construction machine maker now
expects its FY revenues for industrial activities to be up
between 8% and 11% yr/yr, vs a previous forecast of 6%-10%
** "The improvement in industrial sales guidance reflects a
still strong demand in row crop farming, durable positive
pricing level, a robust order backlog and positive feedback from
dealer", analyst at Intesa Sanpaolo say
** Banca Akros adds it expects cost inflation to ease
overtime and CNH's margins to improve in 2023
** At around 0920 GMT the stock is up 3%, outperforming
Milan's blue-chip index .FTMIB , which rises 0.3%
** CNH's Milan-listed stock is on track for its best day
since March 21, when it closed up 3.6%
(1 euro = $1.1043)
(Reporting by Alberto Chiumento)
((alberto.chiumento@thomsonreuters.com))