Equipment manufacturer CNH Global announced its first-quarter financial results this morning with the positive news of increases in both sales and operating profits.
During the first three months of the year, CNH saw sales of $4.7 billion, an increase of 1 percent over the $4.64 billion the company reported last year at the same time.
CNH first-quarter operating profits were up even higher to $443 million, an increase of 9 percent over the $406 million reported last year.
The company’s agricultural equipment sales, up 11 percent from last year to $3.9 billion, fueled its profitability for the quarter. The success in the agricultural segment was able to make up for the 26-percent decline in first-quarter sales the construction segment saw in the last year.
CNH construction equipment reported net sales of $754 million.