CNH Global Q2 Results Top Estimates; Backs FY13 Outlook - Quick Facts

(RTTNews) - CNH Global NV (CNH) reported that its second-quarter net income attributable to the company improved to $471 million or from $355 million in the same quarter last year. Earnings per share for Common Shares and Common Shares B was $1.92 up from $1.47 last year.

Net income, before restructuring and exceptional items, was $473 million for the quarter, an increase of 33%, driven by continued solid market conditions in the agricultural equipment sector, satisfactory industrial performance, and improved results from the Group's financial services business.

Earnings, before restructuring and exceptional items, rose to $1.93 per share, from $1.47 per share in the comparable period of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $1.48 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased to $5.478 billion from $5.026 billion last year. Seven analysts had consensus revenue estimate of $5.27 billion for the quarter. Revenues for the quarter grew to $5.73 billion from $5.279 billion in the prior year quarter.

For fiscal 2013, the company still expects revenues to be up around 5 percent and operating margin between 8.5 percent and 9.0 percent. Analysts expect the company to report revenues of $20.03 billion for fiscal 2013.