Why CNH Industrial Shares Are Gaining today
Portfolio Pulse from Lekha Gupta
CNH Industrial N.V. (NYSE:CNHI) shares rose after reporting Q1 FY24 results with revenue of $4.82 billion, surpassing the $4.37 billion consensus despite a 10% Y/Y decline. Net sales in Industrial Activities dropped 14% Y/Y to $4.13 billion, with Agriculture and Construction segments also seeing declines. Adjusted EPS was $0.33, beating the $0.27 consensus. The company revised its 2024 EPS outlook downwards and expects lower global industry retail sales. CNH will change its NYSE ticker to 'CNH' on May 20. Investors can also gain exposure through ETFs KROP and EATV.
May 02, 2024 | 5:26 pm
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NEUTRAL IMPACT
Advisors Series Trust VegTech Plant-Based Innovation & Climate ETF (NYSE:EATV) includes CNH Industrial, which saw its shares rise after reporting Q1 FY24 earnings above expectations.
EATV's connection to CNH Industrial suggests its performance may be impacted by CNH's earnings results and future outlook. The Q1 performance is a positive signal, but the revised outlook introduces uncertainty.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Global X AgTech & Food Innovation ETF (NASDAQ:KROP) offers exposure to CNH Industrial, which reported strong Q1 FY24 results but revised its 2024 outlook downwards.
KROP's exposure to CNH Industrial means its performance could be influenced by CNH's financial health and market outlook. The Q1 earnings beat is positive, but the cautious 2024 outlook may have a mixed impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
CNH Industrial reported stronger than expected Q1 FY24 results with a revenue beat and adjusted EPS above consensus, despite a downward revision in 2024 outlook. Shares rose 3.09%.
The positive reaction in CNH Industrial's stock price is likely due to the earnings beat and higher than expected adjusted EPS, signaling stronger financial health than anticipated. However, the downward revision in the 2024 outlook may temper long-term expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100