CNH Global, a subsidiary of Fiat, saw sales and income soar in the third quarter with income before restructuring at $274 million US, up 230 percent.
Net sales of equipment reached $4.6 billion, up 30 percent over the same period last year thanks to strong demand and better pricing.
Net equipment sales for the quarter were 77 percent from agricultural equipment and 23 percent from construction equipment.
Global tractor sales grew 12 percent while global combine sales grew 16 percent for the quarter. The growth occurred outside of North America.
Year to date capital expenditures totalled $218 million, up 42 percent, largely as a result of new product launches in agricultural and construction equipment.
Rival Agco also posted a strong third quarter and raised its full-year outlook. Agco net sales rose to $2.1 billion in the quarter, an increase of 27 percent. Net income was $84.4 million, up 35 percent.
