CNH Industrial N.V. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 30, 2018 at 07:20 am
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CNH Industrial N.V. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues of $8,102 million compared to $6,998 million a year ago. Income before income taxes and equity in income of unconsolidated subsidiaries and affiliates was $168 million compared to $162 million a year ago. Net loss attributable to company was $46 million or $0.03 per diluted share compared to $95 million or $0.07 per diluted share a year ago. Adjusted net income attributable to company was $195 million or $0.14 per share compared to $191 million or $0.14 per diluted share a year ago.
For the year, the company reported total revenues of $27,361 million compared to $24,872 million a year ago. Income before income taxes and equity in income of unconsolidated subsidiaries and affiliates was $680 million compared to loss of $9 million a year ago. Net income attributable to company was $295 million or $0.22 per diluted share compared to loss of $252 million or $0.18 per diluted share a year ago. Net cash provided by operating activities was $2,015 million compared to $2,108 million a year ago. Adjusted net income attributable to company was $478 million or $0.35 per share compared to $651 million or $0.48 per diluted share a year ago. Net debt as on December 31, 2017 was $19,702 million compared to $19,420 million a year ago.
For 2018, the company expects net sales of industrial activities between $27 billion and $28 billion and an increase of 30% of adjusted diluted EPS to between $0.63 and $0.67. Net industrial debt expected between $0.8 billion and $1.0 billion. The company expects the adjusted ETR for the group to be in the 30% to 32% range, down 5 to 7 points on a year-on-year basis. The full catch-up in CapEx to grow around 25% year-on-year.
CNH Industrial N.V. is an equipment and services company. The Company is engaged in the design, production, marketing, sale, and financing of agricultural and construction equipment. The Company operates through three segments: Agriculture, Construction and Financial Services. Its Agriculture segment designs, manufactures, and distributes a full line of farm machinery and implements, including two-wheel and four-wheel drive tractors, crawler tractors, grape and sugar cane harvesters, hay and forage equipment, planting and seeding equipment, material handling equipment, and others. Its Construction segment designs, manufactures, and distributes a full line of construction equipment, including excavators, crawler dozers, graders, wheel loaders, backhoe loaders, skid steer loaders, and compact track loaders. Its Financial Services segment offers retail note and lease financing to end-use customers for the purchase of new and used agricultural and construction equipment and components.
CNH Industrial N.V. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018