¹û¶³´«Ã½

CNH Industrial N.V. has 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 14% compared to Q1 2023). Net cash used in operating activities was $894 million and Industrial Free Cash Flow absorption was $1,209 million in Q1.

• 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

Agriculture: Agriculture net sales decreased for the quarter by 14% to $3.37 billion primarily due to lower industry volume across all regions and dealer inventory management, partially offset by favorable price realization.

Source: