August 1, 2019 / 12:38 PM / 16 days ago

CNH Industrial cuts year sales forecasts but sticks to EPS guidance

MILAN, Aug 1 (Reuters) - CNH Industrial trimmed its forecast for full-year revenue but maintained its guidance on profits after lower sales volumes and exchange rates weighed on results at the Italian-American machinery maker in the second quarter.

CNH Industrial now expects to book fully-year net sales from industrial activities of between $27 billion and $27.5 billion, versus previous guidance of approximately $28 billion.

The company, which makes most of its profit from farming machinery, Iveco commercial vehicles, construction equipment and powertrains, confirmed it expected adjusted diluted earnings per share (EPS) of between $0.84 and $0.88 this year.

Milan-listed shares in the trucks and tractor maker rose as much as 1.8% to a session high after the earnings release.

The company’s main shareholder is Exor, the holding group of Italy’s Agnelli family. (Reporting by Giulio Piovaccari Editing by Keith Weir)

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