CNH Q2 Beat and Raised Guidance Spark 15% Rally, Lifting Deere and AGCO
CNH sits 27% above its 52-week low of $9.
Summary
CNH Industrial posted a Q2 beat with adjusted EPS of $0.13 vs. $0.10 consensus on revenue of $4.8B, and raised full-year guidance — now expecting flat ag sales (up from down 5%) and 8% construction growth (up from flat). Shares surged 15% in early trading, pulling Deere up 3.6% and AGCO up 2.5% as investors bet the ag cycle is turning. This follows the earlier Dow Jones and Reuters reports of the beat and guidance raise, but adds the market's strong price reaction and CEO Marx's comments on 'constructive equipment-cycle indicators.' The move signals growing conviction that the trough is in, though farmer economics remain pressured.
At the time of this announcement, CNH was trading at $11.44 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $14.2B. The 52-week trading range was $9.00 to $13.31. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.