Shares of CNH Industrial N.V. rose after the company lifted its full-year outlook, despite contending with what it called challenging dynamics in the agricultural industry.
The stock rose 11% to $11.39 on Monday. Shares are up 23% year to date.
The farming and construction equipment maker said it expects its 2026 results will come in at the higher end of its previously forecast ranges, projecting adjusted earnings per share of 41 cents to 46 cents, compared with a prior outlook of 35 cents to 45 cents.
The updated guidance comes as CNH continues to contend with tough dynamics in the agricultural industry, as farmers face low commodity prices, high input costs and an uncertain trade environment, the company said.
The company said its agriculture segment is responding by maintaining low production levels, working with its dealer network to lower channel inventory, cutting costs and managing changes in trade policies.
CNH's construction segment, meanwhile, will continue to focus on quality, manufacturing efficiencies and opportunities to offset tariff costs, the company said.
The updated guidance comes as the company logged better-than-expected adjusted per share earnings in the latest quarter.
Chief Executive Gerrit Marx said the quarterly results reflect continued progress on key focus areas including quality, sourcing, efficiency and dealer network consolidation, despite tough market conditions.
The market "remains at the trough of the agriculture cycle," Marx said. "While farmer economics remain pressured, we are seeing constructive equipment-cycle indicators, including dealer inventory normalization, aging fleets, and a more balanced relationship between new and used equipment pricing."
Second-quarter profit came in at $138 million, or 11 cents a share, compared with $213 million, or 17 cents a share, a year earlier.
Adjusted earnings per share were 13 cents, topping estimates of 10 cents a share, according to analysts polled by FactSet.
Revenue rose 2% to $4.8 billion, compared with analyst estimates of $4.77 billion.