October 31, 2017 / 12:50 PM / a year ago

CNH Industrial raises sales, profit guidance after upbeat Q3

MILAN, Oct 31 (Reuters) - Trucks and tractor maker CNH Industrial on Tuesday raised its full-year sales and earnings guidance after reporting a 41 percent rise in quarterly operating profit for industrial activities, sending its shares up more than 2 percent.

The company, created from the merger of Fiat Industrial and its U.S. unit CNH, said operating profit for its industrial activities in July-September rose to $351 million from $248 million a year ago, while margins in the quarter rose to 5.5 percent from 4.5 percent.

Industrial sales rose 16 percent to $6.33 billion. Net industrial debt increased by $500 million to $2.6 billion by the end of September due to seasonal rise in working capital.

The company said it now expects full-year industrial sales of between $25.0-25.5 billion, up from a previous forecast of around $24 billion, while adjusted diluted earnings per share are seen at between $0.44-0.46, up from $0.41 guided earlier.

CNH Industrial added that it would end the year with net debt of between $1.5-1.7 billion, slightly up from a previous forecast of between $1.4-1.6 billion given the strengthening of the euro to the U.S. dollar.

Reporting by Agnieszka Flak

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