CNH Industrial Q1 2024 EPS $0.31, revenue $4.82B; cuts full-year guidance on weaker ag demand

CNH Industrial N.V.

2024-Q1 EPS reported $0.31 revenue$4,818,000,000

Consolidated revenue $4.82B (-10% YoY); diluted EPS $0.31 vs $0.35 YoY; adjusted diluted EPS $0.33.
Agriculture segment net sales $3.37B (-14%); adj. EBIT margin 12.5% (down 200 bps from 14.5%).
Construction segment net sales $758M (-11%); adj. EBIT margin 6.7% (+150 bps from 5.2%).
Full-year guidance cut: Agriculture net sales now -11% to -15% (prev -8% to -12%); adj. diluted EPS $1.45-$1.55 (prev $1.50-$1.60).
Industrial free cash flow absorption $1.209B in Q1; FY FCF guidance lowered to $1.1-$1.3B from $1.2-$1.4B.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CNH Industrial N.V. reported the first quarter of 2024 results: revenue $4.82 billion, net income $402 million, EPS $0.31. Guidance reaffirmed.

Period: the first quarter of 2024
Revenue: $4.82 billion
Net income: $402 million
EPS: $0.31
Guidance: reaffirmed
Result: reported results

Exact text from the filing

CNH Industrial N.V. Reports First Quarter 2024 Results First quarter consolidated revenue declined 10% on lower industry demand First quarter diluted EPS at $0.31; adjusted diluted EPS at $0.33 ($0.35 in the first quarter of 2023) First quarter Agriculture segment adjusted EBIT margin down 200 bps year-over-year to 12.5%; Construction up 150 bps to 6.7% Cost reduction programs on track, helping to mitigate impact of slowing markets Full-year guidance updated to reflect lower agriculture industry projections Basildon, UK - May 2, 2024 - CNH Industrial N.V. (NYSE: CNHI) today reported results for the three months ended March 31, 2024, with net income of $402 million and diluted earnings per share of $0.31 compared with net income of $486 million and diluted earnings per share of $0.35 for the three months ended March 31, 2023. Consolidated revenues were $4.82 billion (down approximately 10% compared to Q1 2023) and Net sales of Industrial Activities were $4.13 billion (down approximately

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Source: SEC EDGAR

accession 0001628280-24-019752

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