CNH construction equipment sales edge higher
By Chris Sleight05 August 2014
CNH Industrial’s construction equipment business had sales of US$ 931 million in the second quarter of the year, a -0.9% decline on the same period last year. However, it achieved an operating profit of US$ 28 million, up +15% on Q2, 2013.
In addition, the businesses sales for the first half of the year were up +0.7% on the first half of last year at US$ 1.71 billion. The first half operating profit was US$ 31 million, compared to a loss of US$ 13 million a year ago.
The company said its increase in sales was due to higher demand in North America, which offset a decline in Latin American and Asian territories. It also noted a recovery in the Europe, Africa & Middle East region.
CNH Industrial also said it ramped-up production in the second quarter, with output some +12% higher than retail sales, in response to the recovery in North American and European markets.
Overall, CNH Industrial’s sales for the quarter were up +0.9% compared to a year ago at US$ 8.91 billion. Operating profits were up +10% at US$ 358 million.
CNH Industrial sells construction equipment under the Case and New Holland brands.