CNH Global (CNH) Tops Q3 EPS by 31c; Revs Heavy; Affirms Upper-End of Outlook
CNH Global N.V. (NYSE: CNH) reported Q3 EPS of $1.13, $0.31 better than the analyst estimate of $0.82. Revenue for the quarter came in at $4.61 million versus the consensus estimate of $4.2 billion.
CNH re-affirms the upper end of its full year 2011 guidance for revenue growth of 15-20% and operating margin of 7.1% to 7.9%.
Demand in the agricultural and construction equipment markets is expected to remain firm for the balance of 2011 on the back of a positive environment in agricultural commodity prices and the consequent increase in planting and farming income estimates. Further, the environment for construction equipment continues to improve overall with the exception of the APAC region where the demand environment has begun to slow from its significant growth trajectory over the past 36 months.
CNH re-affirms the upper end of its full year 2011 guidance for revenue growth of 15-20% and operating margin of 7.1% to 7.9%.
Demand in the agricultural and construction equipment markets is expected to remain firm for the balance of 2011 on the back of a positive environment in agricultural commodity prices and the consequent increase in planting and farming income estimates. Further, the environment for construction equipment continues to improve overall with the exception of the APAC region where the demand environment has begun to slow from its significant growth trajectory over the past 36 months.