London, UNITED KINGDOM, Aug. 1 (Korea Bizwire) – The following is an extract from the “CNH Industrial 2019 second 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:
For the second quarter of 2019 CNH Industrial reported a robust net income of $427 million,
or $0.31 per share, on consolidated revenues of $7.6 billion.
Net debt of Industrial Activities at $1.5 billion
Financial results presented under U.S. GAAP
- Industrial Activities net sales were $7.1 billion, down 7% compared to the second quarter of 2018 (down 2% on a constant currency basis), with positive price realization more than offset by lower sales volume and negative currency translation impact
- Adjusted EBIT of Industrial Activities was $527 million, with a 7.5% margin, flat compared to the second quarter of 2018. Adjusted EBITDA of Industrial Activities was $768 million, with a 10.9% margin
- Adjusted net income was $430 million in the second quarter of 2019, with adjusted diluted EPS of $0.31, up 11% compared to the second quarter of 2018
- Net debt of Industrial Activities at June 30, 2019 was $1.5 billion, in line with March 31, 2019
- On July 2, Fitch Ratings improved the outlook of CNH Industrial N.V. to positive from stable and affirmed CNH Industrial N.V.’s and CNH Industrial Capital LLC’s long-term issuer default rating at “BBB-”
- On July 3, CNH Industrial Finance Europe S.A. issued €500 million in principal amount of 1.625% notes due 2029 and guaranteed by CNH Industrial N.V.
- Full year guidance at: net sales of Industrial Activities expected between $27 and $27.5 billion, adjusted diluted EPS between $0.84 and $0.88, and net debt of Industrial Activities between $0.4 billion and $0.2 billion
Source: CNH Industrial N.V. via GLOBE NEWSWIRE