Italy’s Iveco ups 2023 guidance after operating profit jump

Italy’s Iveco ups 2023 guidance after operating profit jump

(Reuters) – Italian truckmaker Iveco on Thursday raised its guidance for this year, after posting a 63.4% rise in adjusted operating profits in the first quarter.

The manufacturer said its adjusted earnings before interest and tax (EBIT) from industrial activities would come in between 510-550 million euros ($561.41-$605.44 million) this year, up from a previous forecast of between 460-500 million euros.

Its EBIT from industrial activities stood at 134 million euros in the January to March period.

($1 = 0.9084 euros)

(Reporting by Federica Urso, editing by Gavin Jones)