CNHi Revises Forecast Upward

CNH Industrial posted a higher-than-forecast operating profit in the third quarter and issued guidance for a smaller-than-expected sales decline this year after all its divisions performed ahead of expectations following a COVID-hit first half.

The Italian-American vehicle and equipment maker said adjusted earnings before interest and tax from industrial activities fell 16 percent from a year earlier.

The maker of farm machinery, commercial vehicles, construction equipment and powertrains said sales from industrial activities would fall between 10 and 15 percent this year. A guidance released in July projected a drop between 15 and 20 percent.