CNH Industrial sees better 2014 after flat Q4
MILAN Jan 30 (Reuters) - Tractor and trucks maker CNH Industrial reported a flat fourth-quarter trading profit on Thursday, but said it expected to improve its performance in 2014.
The sister company of Italian car maker Fiat said trading profit - earnings before interest, tax and one-time items - for the three months to end-December stood at 436 million euros ($595 million), in line with the previous year.
Net revenues fell 1.1 percent to 6.9 billion euros.
The company, which competes with Caterpillar and Deere & co, said it expected 2014 revenues to be between flat and 5 percent higher on the previous year, while trading margin is seen at between 7.8-8.2 percent.
CNH Industrial also said it expects net industrial debt of between 1.5-1.7 billion euros in 2014.
Milan-listed CNH Industrial shares extended their losses on the statement and were down 2.13 percent at 8.04 euros by 1503 GMT. In New York shares were down 2.8 percent.
- Man called Bitcoin's father denies ties, leads LA car chase
- Apple loses bid for U.S. ban on Samsung smartphone sales
- Putin rebuffs Obama as Ukraine crisis escalates |
- Florida mayor fights backyard gun ranges in 'Gunshine State'
- UPDATE 6-Obama warns on Crimea, orders sanctions over Russian moves in Ukraine