CNH Industrial N.V. (CNHI) Tops Q2 EPS by 8c, Beats on Revenues; Offers FY18 EPS Outlook

CNH Industrial N.V. (NYSE: CNHI) reported Q2 EPS of $0.29, $0.08 better than the analyst estimate of $0.21. Revenue for the quarter came in at $8 billion versus the consensus estimate of $7.49 billion.

• CNH Industrial reported 2018 second quarter consolidated revenues up 15% to $8.0 billion,with net income up 73% to $408 million, or $0.29 per share.Net industrial debt decreased by 33% to $1.3 billion
• Industrial Activities net sales increased 16% (up 13% on a constant currency basis) primarily driven by double-digit improvements in the Agricultural and Construction Equipment segments
• Adjusted EBIT of Industrial Activities increased 44% to $571 million, with a 7.5% margin (up 1.4 percentage points). Adjusted EBITDA of Industrial Activities at $843 million, with an 11.1% margin
• Adjusted net income was $397 million (a $142 million increase, or up 56%, compared to the second quarter of 2017), with adjusted diluted EPS of $0.28 (up $0.10 per share)
• Net industrial debt was $1.3 billion at June 30, 2018, $0.6 billion lower than at March 31, 2018, as a result of a strong operating cash generation in the quarter (up 58% compared to the second quarter of 2017)
• Full year guidance updated as follows: net sales of Industrial Activities unchanged at approximately $28 billion, adjusted diluted EPS increased to between $0.67 and $0.71 per share. Net industrial debt guidance improved to between $0.7 billion and $0.9 billion

GUIDANCE:

CNH Industrial N.V. sees FY2018 EPS of $0.67-$0.71, versus the consensus of $0.68.

For earnings history and earnings-related data on CNH Industrial N.V. (CNHI) click here.

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