August 1, 2019 / 12:52 PM / 8 months ago

CNH Industrial cuts year sales forecasts but sticks to EPS guidance

MILAN (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.

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Reporting by Giulio Piovaccari; Editing by Keith Weir

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