Cnh Industrial archive the first quarter with a net profit of 336 million dollars, down compared to 363 million a year ago. THE revenuesHowever, they rose 13% to $4,645 billion. Net revenue from industrials also rose 13% to $4,18 billion. Investors liked the numbers who, at the beginning of the afternoon, rewarded the quarterly with a rise of 2,8% for the stock on the Cnh Stock Exchange.
Il diluted earnings per share is equal to 0,24 dollars, against 0,27 a year ago. On the profitability side, theadjusted ebit of industrial activities rose to 429 million (from 393 million recorded in the same period last year), with a margin of 10,3% (from 10,6%).
THEadjusted net profit increased to $378 million from $352 million in Q2021 0,28, with adjusted diluted earnings per share of $0,26 (from $XNUMX).
At the end of March, the free cash flow of Industrial activities was negative for 1.059 million dollars, due to an absorption of working capital higher than the historical seasonal figure due to interruptions in the logistics-production chain.
THEtotal debt as of March 31, 2022, it is equal to $21,3 billion ($20,9 billion as of December 31, 2021). Net debt from Industrials was $2,1 billion, an increase of $960 million compared to December 31, 2021. Available liquidity was $9.399 million as of March 31, 2022.
71 MILLION WRITE-DOWNS FROM RUSSIA
Cnh Industrial operated write-downs of $71 million related to assets, financial receivables and deferred taxes following the suspension of activities in Russia. This was specified by the group, explaining that the adjusted net profit for March does not take into account these write-downs.
CNH INDUSTRIAL CONFIRMS ESTIMATIONS FOR 2022
Despite this, CNH Industrial confirmed its outlook for 2022 for its industrial businesses, expecting net revenues to increase between 10% and 14% year on year, including currency conversion effects.
In addition, the group expects selling, general and administrative expenses of less than or equal to 7,5% of net revenues, free cash flow in excess of $1,4 billion, and research and development and capital expenditures of approximately XNUMX. XNUMX billion dollars.
