CNH Industrial Q2 2014 Profit Increases

Quarterly total revenues grew to $8.911 billion from $8.829 billion in the year ago quarter.

CNH Industrial N.V. reported that its second-quarter net income attributable to the company rose to $354 million from $283 million in the year ago quarter. On a per share basis, net income was $0.26, up from $0.23 last year.

Basic earnings per share, before restructuring and other exceptional items, was $0.28, up from $0.25 in the year ago quarter.

Quarterly total revenues grew to $8.911 billion from $8.829 billion in the year ago quarter.

On an IFRS basis, CNH Industrial posted net revenues of $9.008 billion for the second quarter of 2014, an increase of 1.0% from the same quarter in 2013. Consolidated net profit was $403 million or $0.29 per share, compared with $429 million or $0.29 per share last year.

CNH Industrial confirmed its 2014 U.S. GAAP guidance, consistent with the 5-year plan financial  projections presented at the Investor Day on May 8th, as follows: Net sales of Industrial Activities at approximately $32 billion; Operating profit of Industrial Activities between $2.1 billion and $2.2 billion, with margin between 6.5% and 6.9%; Net industrial debt between $2.2 billion and $2.1 billion at the end of 2014; Consolidated net income before restructuring between $0.9 billion and $1.0 billion, with earnings per share before restructuring between $0.69 and $0.74.

CNH Industrial confirmed its 2014 IFRS guidance as follows: Consolidated revenues at approximately $34 billion; Consolidated trading  profit between $2.6 billion and $2.7 billion; Net industrial debt between $2.2 billion and $2.1 billion at the end of 2014; Consolidated net income before restructuring between $1.1 billion and $1.2 billion.

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