• Industrial Activities revenues up 6.1% (up 6.5% on a constant currency basis) driven by demand for agricultural equipment in the LATAM region, and in the Commercial Vehicles and Powertrain segments
  • Operating profit of Industrial Activities at $219 million, an increase of 23%, at an operating margin of 4.1% driven by volume leverage in Agricultural Equipment and Powertrain
  • Adjusted net income was $58 million in the first quarter of 2017, with adjusted diluted EPS of $0.04
  • Net industrial debt was $2.1 billion at March 31, 2017, with industrial operations cash flow improved by $0.1 billion compared to the first quarter of 2016
  • Full year guidance reaffirmed

London, UK — CNH Industrial N.V. (NYSE:CNHI / MI:CNHI) today announced consolidated revenues of $5,681 million for the first quarter of 2017, up 5.8% compared to the first quarter of 2016. Net sales of Industrial Activities were $5,384 million in the first quarter of 2017, up 6.1% compared to the first quarter of 2016. Reported net income was $49 million for the first quarter of 2017. Adjusted net income was $58 million for the quarter.

Operating profit of Industrial Activities was $219 million for the first quarter of 2017, a $41 million increase compared to the first quarter of 2016, with an operating margin of 4.1%, up 0.6 p.p. compared to the first quarter of 2016.

Agricultural Equipment’s net sales increased 10.5% in the first quarter of 2017 compared to the first quarter of 2016 (up 8.5% on a constant currency basis), as a result of a strong rebound in demand in LATAM and the continuation of positive market momentum in APAC. Revenue in NAFTA and EMEA were flat to slightly down due to a weak demand environment, partially mitigated by positive pricing.

Operating profit was $159 million in the first quarter ($90 million in the first quarter of 2016). Operating margin increased 2.6 p.p. to 6.8% compared to the first quarter of 2016, as a result of increased revenues in LATAM and APAC, as well as improved fixed cost absorption, disciplined net price realization and manufacturing efficiencies.

CNHI Q1 2017 Segment Results