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2017 Second Quarter Results

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CNH Industrial 2017 second quarter revenues up 3% to $6.9 billion, net income at $247 million, with adjusted net income (2)(3) up 23% to $266 million or $0.19 per share. Net industrial debt at $2.1 billion

Financial results presented under U.S. GAAP(1)

  • Industrial Activities’ revenues up 3.2% (up 4.5% on a constant currency basis) on strengthening agricultural equipment demand in LATAM and positive developments in APAC markets across all segments
  • Operating profit(2)(3) of Industrial Activities increased 6.2% to $481 million, with an operating margin of 7.2% as a result of a solid performance in all segments
  • Adjusted net income increased to $266 million in the second quarter of 2017, with adjusted diluted EPS(2)(3) of $0.19
  • Net industrial debt(2)(3) was $2.1 billion at June 30, 2017, in line with March 31, 2017
  • In June, S&P Global Ratings raised the credit ratings of both CNH Industrial N.V. and CNH Industrial Capital LLC to “investment grade”, with stable outlook
  • Full year guidance leading to the high end of the sales and EPS range


Summary of Results ($ million except EPS)
Six Months Ended June 30,
Three Months Ended June 30,
2017
2016
Change
 
2017
2016
Change
12,629
12,125
4.2%
Revenues
6,948
6,753
2.9%
296
(384)
680
Net income (loss)
247
129
118
324
217
107
Adjusted net income
266
216
50
0.21
(0.28)
0.49
Basic EPS ($)
0.18
0.10
0.08
0.21
(0.28)
0.49
Diluted EPS ($)
0.18
0.10
0.08
0.23
0.16
0.07
Adjusted diluted EPS ($)
0.19
0.16
0.03




(1) CNH Industrial reports quarterly and annual consolidated financial results under U.S. GAAP and EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with U.S. GAAP. Financial results under EU-IFRS are shown in specific tables at the end of this press release.

(2) This item is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Information” section of this press release for information regarding non-GAAP financial measures.

(3) Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-GAAP financial measure and the most comparable GAAP financial measure.

  • 2017 Second Quarter Results