(Reuters) -CNH Industrial sees its net sales of industrial activities increasing between 6% and 10% this year, the group said on Thursday, after posting stronger-than-expected results in the last quarter of 2022.
Its adjusted earnings before interest and tax (EBIT) of industrial activities rose to $680 billion from a pro-forma $378 billion a year earlier, before the truck-making business Iveco was spun off.
That topped analysts’ expectations of $566 million, based on a market consensus provided by Intesa Sanpaolo.
Sales from industrial activities increased 31% at constant currency to $6.35 billion, pushed by favourable price trends and higher volumes.
The Italo-American farming and construction machine maker said it would propose an annual cash dividend of 0.36 euros per share (about $0.38 per share).
The group also forecast its 2023 free cash flow (FCF) of industrial activities at between $1.3 billion and $1.5 billion, compared with $1.6 billion last year.
The company said it was pleased that the strike by two local unions at its factories in Wisconsin and Iowa had been resolved.
(Reporting by Federica Urso; editing by Gavin Jones)
