Press release
670KB
may 05, 2021 - CNH Industrial
CNH Industrial reports record first quarter. Consolidated revenues of $7.5 billion (up 37% compared to Q1 2020), net income of $425 million, adjusted diluted EPS of $0.32, and adjusted EBIT of Industrial Activities of $545 million (up $693 million),
The following is an extract from the “CNH Industrial 2021 first quarter results” press release. The complete press release can be accessed by visiting the media section of the #cnhindustrial #corporate website: https://www.cnhindustrial.com/en-us/media/press_releases/Pages/default.aspx or consulting the accompanying PDF:
Financial results presented under U.S. GAAP
Net sales of Industrial Activities of $7,043 million, up 41% due to higher volumes driven by strong industry demand, particularly in Agriculture and Commercial and Specialty Vehicles, together with favorable price realization, primarily in Agriculture.
Adjusted EBIT of Industrial Activities of $545 million (loss of $148 million in Q1 2020), with all segments up year over year. Agriculture adjusted EBIT margin above 13%, Powertrain above 9% and Construction at 3.8%. Commercial and Specialty Vehicles adjusted EBIT of $76 million, the highest in Q1 since 2013.
Adjusted net income of $454 million, with adjusted diluted earnings per share of $0.32 (adjusted net loss of $66million in Q1 2020, with adjusted diluted loss per share of $0.06).
Reported income tax expense of $157 million and adjusted income tax expense of $143 million, with adjusted effective tax rate (adjusted ETR) of 25%, which reflects jurisdictional mix of pre-tax results and net discrete tax charges.
Free cash flow of Industrial Activities was negative $0.4 billion as a result of lower than historical seasonal working capital cash absorption. Total Debt of $23.8billion at March 31, 2021 ($26.1billion at December 31, 2020). Industrial Activities net cash position at $0.6billion, a decrease of $0.2billion from December31, 2020.
Available liquidity at $13.9 billion as of March31, 2021. On February 26, 2021, #cnhindustrial N.V. extended by one year, to March 2026, its syndicated committed revolving credit facility for €3,950.5 million. In March 2021, #cnhindustrial Finance Europe S.A. repurchased all itsoutstanding notesdue May 23, 2022 equaling €316 million (~$371million).
CNH Industrial Logo 397837
1280x720, 109KB
Related news |
||
|
|
|
april 19, 2024
|
january 23, 2024
|
january 18, 2024
|
|
Red Dot Design award win for newest STEYR tractor range / Recognizes innovative look of 80-117hp line / Styling incorporates pract... |
Case IH is capitalising on the Agricultural Engineering Innovation Forum at this year's International Green Week in Berlin as an o... |
World-leading combine harvester to be produced at New Holland's Center of Harvesting Excellence in Zedelgem, BelgiumMachine to be ... |
Download all 
You might be interested in |
||
|
|
|
january 12, 2024
|
january 03, 2024
|
december 21, 2023
|
|
... |
CNH Industrial N.V. (NYSE: CNHI) announces that it has completed the voluntary delisting of its shares from Euronext Milan. Shares... |
The world’s first accessible tractor is set to help farmers with lower limb disabilities work in fields independently.Produced in ... |
Italian 
Download all 
Share
Share via mail 
Automotive
Sport
Events
Art&Culture
Design
Fashion&Beauty
Food&Hospitality
Technology
Nautica
Racing
Excellence
Corporate
OffBeat
Green
Gift
Pop
Heritage
Entertainment
Health & Wellness