CNH's construction equipment first quarter net sales decreased 26 percent, as the company reported that industry unit demand slowed in every region, with light equipment down 8 percent and heavy equipment down 23 percent.
Company-wide, net sales for the quarter increased 1 percent to $4.7 billion. Equipment operations, encompassing agricultural and construction equipment, posted an operating profit of $443 million. Equipment net sales in Q1 were comprised of 84 percent agricultural equipment and 16 percent construction equipment. The geographic distribution for Q1 net sales was 44 percent North America, 30 percent EAME and CIS, 19 percent Latin America, and 7 percent APAC markets.
CNH expects construction equipment unit volume to be down 5 to 10 percent for 2013.