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CNH Industrial announces first quarter results

Auto News - Published on Thu, 09 May 2019

Image Source: en.wikipedia.org
CNH Industrial NV announced consolidated revenues of USD 6,457 million for the first quarter of 2019, down 5% compared to the first quarter of 2018 (up 2% on a constant currency basis). Net sales of Industrial Activities were $6,006 million in the first quarter of 2019, down 5% compared to the first quarter of 2018 (up 2% on a constant currency basis). Net income was USD 264 million in the first quarter of 2019 (USD 202 million in the first quarter of 2018) and included a pre-tax gain of USD 30 million (USD 22 million net of tax impact) as a result of the amortization over approximately 4.5 years of the USD 527 million positive impact from the 2018 US healthcare plan modification.

Industrial Activities net sales were USD 6.0 billion, down 5% compared to the first quarter 2018 (up 2% on a constant currency basis), with currency translation impact more than offsetting strong price realization performance in Agriculture and Construction, and sales volume improvements in Commercial and Specialty Vehicles

Adjusted EBIT of Industrial Activities increased 7% to USD 278 million, with a 4.6% margin (up 50 basis points)

Adjusted EBITDA of Industrial Activities was USD 525 million, with an 8.7% margin, flat compared to the first quarter of 2018

Adjusted net income was USD 248 million in the first quarter of 2019

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Posted By : Mohan Sharma on Thu, 09 May 2019
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