Deere & Co cut the lower end of its annual profit forecast on Thursday but topped Wall Street expectations for second-quarter results aided by cost-saving measures and inventory management, sending its shares up five per cent.
Tag Archives CNH Industrial
Deere tops second-quarter estimates, trims annual profit forecast
Shares up five per cent
CNH Industrial names James Nickolas as CFO
Tractor maker CNH Industrial on Thursday named James Nickolas as its new chief financial officer, succeeding company veteran Oddone Incisa.
CNH Industrial forecasts lower FY profits on declining agriculture, construction equipment sales
Reuters – CNH Industrial CNH.N on Tuesday forecast 2025 profit below Wall Street’s estimates, as it expects sales to be lower year-over-year in both its agriculture and construction equipment markets in 2025, sending its shares down 3.7 per cent before the bell. The Basildon, UK-based company expects 2025 adjusted earnings to be in the range
CNH Industrial lowers profit forecast on slow demand for farming products
Farm and construction equipment maker CNH Industrial on Wednesday lowered its 2024 profit forecast for the second time, as slowing demand for its tractors and combines keeps hopes for a recovery in the second half of the year muted.
CNH Industrial cuts 2024 profit view as soft agriculture demand bites
CNH Industrial cut its annual profit forecast on Thursday, squeezed by slowing demand for its tractors and farm equipment as choppy crop prices and higher borrowing costs hinder farmers from making big-ticket farming purchases.
CNH Industrial pulls pin on China
CEO sees lack of growth in China’s construction market, but opportunity in agriculture
Reuters – Farming and construction manufacturer CNH Industrial’s decision to permanently halt construction sales in China was due to declining market share and competition from local companies, the CEO said on Dec. 8. Mounting debt from Chinese property developers has been the catalyst for falling housing prices in the region and an overall real estate
Foxconn to build autonomous electric tractors in Ohio
Tech firm to make units for U.S.-based Monarch
Reuters — Taiwan’s Foxconn, the world’s largest contract electronics maker, on Tuesday said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio facility starting in early 2023. The announcement comes as heavy machinery manufacturers, including Deere and Agco, set their sights on the electric vehicle market as the U.S. agriculture
CNH Industrial beats profit estimates, confirms outlook despite recession fears
Milan | Reuters – Agricultural and construction machine maker CNH Industrial CNHI.MI beat estimates on Friday with a 14 percent rise in industrial operating profit in the second quarter and confirmed its full year outlook despite bracing for a global recession. “Whether we face a global recession in 2023 is up for debate, but we
CNH buys spray boom manufacturing capacity
Specialty Enterprises has supplied Case IH with booms
A Wisconsin company that has supplied aluminum spray booms for Case IH sprayer product lines has been brought in-house. CNH Industrial, owner of the Case IH and New Holland brands, announced May 23 it has bought Specialty Enterprises, which is billed as North America’s biggest maker of aluminum spray booms for farm applications as well
CNH Industrial, Monarch Tractor agree on electrification technologies deal
Milan | Reuters – CNH Industrial said on Wednesday it had entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor, a U.S company focused on fully-electric autonomous tractors. The deal marks a further step in efforts by the Italian-American vehicle maker to bolster its agricultural businesses, while preparing to spin-off its
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