CNH Industrial closes the first quarter of 2018 with revenues of 6,773 billion dollars (+17,1%) and a net profit of 202 million (0,14 dollars per share), up 156% from the previous 46 million. Adjusted net profit instead amounted to 204 million, 0,14 dollars per share, up 149%.
Adjusted Ebitda of industrial activities increased by 40% to €547 million, with an adjusted Ebitda margin of 8,7%, while net sales revenues of industrial activities increased by 19% (+11% at constant exchange rates) . Net industrial debt was $1,9 billion, up one billion from December 31, 2017 due to normal seasonality in working capital in the first quarter.
In addition, CNH Industrial raised its 2018 targets to the upper end of the range, with Industrials net sales revenue of approximately $28 billion and adjusted diluted earnings per share between $0,65 and $0,67. Confirmed the net industrial debt target at the end of 2018 between 0,8 million and one billion dollars.
After the release of this news, the CNH stock soared and in mid-afternoon gained 3,3%, at 10,125 euros per share, achieving the best increase of the Ftse Mib.
