• 07-NOV-2018

CNH Industrial - 2018 Third Quarter Results

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The following is an extract from the “CNH Industrial 2018 third quarter results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: cnhindustrial.com/en-us/media/press_releases/ or consulting the accompanying PDF:
 
CNH Industrial reported 2018 third quarter consolidated revenues of $6.7 billion, with net income up 285% to $231 million, or $0.16 per share. 
Net industrial debt at $2.0 billion
 
  • Industrial Activities net sales were flat compared to the third quarter of 2017 (up 4% on a constant currency basis), with an 18% improvement in Construction Equipment and a 4% increase in Agricultural Equipment offset by declines in Commercial Vehicles and Powertrain 
  • Adjusted EBIT of Industrial Activities increased 24% to $321 million, with a 5.1% margin (up 1.0 percentage points). Adjusted EBITDA of Industrial Activities was $591 million, with a 9.5% margin (up 1.1 percentage points)
  • Adjusted net income was $222 million (a $71 million increase, or up 47%, compared to the third quarter of 2017), with adjusted diluted EPS of $0.16 (up $0.05 per share)
  • Net industrial debt was $2.0 billion at September 30, 2018, $0.7 billion higher than at June 30, 2018, due to the seasonal increase in net working capital 
  • On August 8, S&P Global Ratings raised its long-term issuer credit ratings on both CNH Industrial N.V. and CNH Industrial Capital LLC to “BBB” from “BBB-” with a “stable” outlook
  • In the quarter, CNH Industrial Capital LLC issued $500 million in principal amount of 4.200% Notes due 2024, and CNH Industrial Finance Europe S.A. issued €500 million in principal amount of 1.875% Notes due 2026
  • In September, CNH Industrial was named as Industry Leader in Machinery and Electrical Equipment in the Dow Jones Sustainability Indices (DJSI), World and Europe, for the 8th consecutive year
  • Full year guidance for net sales of Industrial Activities, adjusted diluted EPS and net industrial debt is confirmed, with adjusted diluted EPS expected now at the high end of the range

CONTACTS

  • Richard Gadeselli
    Head of Corporate Communications
    United Kingdom
    +44 (0)207 7660 346
  • Laura Overall
    Corporate Communications Manager
    United Kingdom
    +44 (0)207 7660 338
    +44 (0)7725 632 959