MILAN (Reuters) -Agricultural and construction machine maker CNH Industrial said on Friday its operating profit grew in the second quarter on favourable market conditions and growing sales.
The Italian-American group confirmed its 2023 outlook for its industrial activities, which brokerage Banca Akros had considered as “very cautious” compared to some peers.
Milan-listed shares extended earlier losses after results were published and were down more than 4% by 1217 GMT.
The company said its adjusted earnings before interest and tax (EBIT) from industrial activities rose by over 25% to $822 million in the April-June period.
Its quarterly margin on adjusted EBIT was 13.8%, up from 11.7% in the same period last year.
(Reporting by Giulio Piovaccari, Alessandro Parodi, editing by Gavin Jones)
