Published on 5 May 2023 on Zacks via Yahoo Finance
Bull of the Day: CNH Industrial (CNHI)
CNH Industrial N.V. CNHI is innovating with new equipment including electric tractors. This Zacks Rank #1 (Strong Buy) is also expected to grow its earnings by the double digits in 2023.CNH Industrial is an equipment and services company that manufactures agriculture and construction equipment for customers in 180 markets. It has been manufacturing equipment since 1842 and operates 4 core brands: Case IH, New Holland Agriculture, New Holland Construction and CASE Construction Equipment.New Innovations in Electric and LNG Tractors UnveiledOn Dec 9, CNH Industrial revealed the New Holland T4 Electric Power, the industry's first all-electric light utility tractor prototype.Developed by its teams in the United States and Italy, and in collaboration with strategic partner Monarch Tractor in California, the prototype was presented as New Holland Agriculture but the commercial model will also extend to the Case IH brand.The TR Electric Power is suited to mixed farm, livestock, municipality, orchard and specialty applications.Commercial production is expected to begin at the end of 2023 with a broader product offering to follow.Also on Dec 9, at its Tech Day in Phoenix, CNH Industrial unveiled a prototype in natural gas tractors with the T7 Methane Power LNG (Liquefied Natural Gas) pre-production tractor.New Electrification Center to Open in DetroitWith the auto industry well along its journey towards electric vehicles, it shouldn't be surprising that CNH Industrial announced on Dec 12, 2022, that it would be opening a new technical center in the Detroit metro area designed to support innovation in electrification.“This new location underlines our commitment to growing our electric vehicle and subsystem profile, and marks yet another milestone after successfully expanding our in-house team,” said Marc Kermisch, Chief Digital and Information Officer and ad interim Chief Technology & Quality Officer, CNH Industrial.Record Third Quarter Consolidated RevenueOn Nov 8, 2022, CNH Industrial reported its third quarter results. It beat the Zacks Consensus Estimate by $0.09, reporting $0.41 versus the consensus of $0.32.CNH Industrial has an excellent earnings surprise record. It has only missed once in the last 5 years and it was when the coronavirus pandemic hit in early 2020.
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