CNH Industrial, parent company of Case Construction Equipment, reported a revenue increase of 2.9 percent to $6.9 billion for second quarter 2017, compared to 2016, and says adjusted net income rose 23 percent to $266 million.
The company says operating profit from Industrial Activities reached $481 million for the quarter, $28 million more than the second quarter of 2016. Operating margin was slightly better than last year at 7.2 percent.
Net sales for Construction Equipment increased 13.6 percent compared to 2016, an increase CNHI attributes to “strengthening of NAFTA and APAC markets.” Operating profit for this sector reached $17 million, roughly the same as 2016, with a slightly lower operating margin of 2.5 percent.
Because market conditions across its major segments have performed better than expected for the first half of the year, CNHI is forecasting net sales of Industrial Activities will reach about $24 billion for the year, with an adjusted diluted earnings per share of $0.41 and net industrial debt of between $1.4 billion and $1.6 billion.