CNH Industrial closes the third quarter with a net income of 57 million dollars, up 46,1% compared to the same period a year ago. Revenues rose 15,3% to $6,63 billion, adjusted net profit rose to $148 million from $68 million in the third quarter of 2017. In the afternoon, the stock traded rose 5%, to 10,92 .XNUMX euros.
The group has raised its year-end targets: industrial revenues are now estimated at between $25 and $25,5 billion (previous estimate around $24 billion), and adjusted diluted EPS between $0,44 and $0,46 (about $0,41). The forecast on net industrial debt has also been revised upwards, now estimated at between 1,5 and 1,7 billion dollars for the end of the year, against the previous target which was between 1,4 and 1,6 billion dollars.
Third quarter net sales revenues from Industrials were $6,331 billion, up 15,9% over the same period in 2016. Adjusted diluted earnings per share were $0,11 (+ 120%). Industrials operating profit increased 41% to $351 million, with an operating margin of 5,5%, up one percentage point from the third quarter 2016.
Net industrial debt was $30 billion at September 2017, 2,6, up $500 million from June 30, 2017. Total debt was $25,5 billion at September 30, 2017, stable versus end of June of the same year.
As for the various activities of the CNH Industrial group, agricultural machinery recorded net sales revenues up 12,4% to 2,651 billion dollars, with operating profit equal to 208 million dollars (+34%). and operating margin at 7,8%, up 1,2 percentage points.
Construction Equipment had net sales revenue of $642 million (up 7,9%), operating profit of $13 million, up $12 million from the same period a year ago, and an operating margin of 2 %, up 1,8 percentage points. Commercial Vehicles reported net sales revenues of $2,537 billion (+20%), with operating income of $59 million, down from $64 million in Q2016 2,3, and operating margin at 0,7% (down XNUMX .XNUMX percentage points).
In the Powertrain segment, net sales revenues were $1,075 billion (+26,5%), with an operating profit of $88 million, up $36 million over the same one-year period. Operating margin rose 2,1 percentage points to 8,2%. Lastly, financial services recorded revenues of 409 million dollars (+6%).
Customer loans amounted to $2,3 billion, stable compared to the third quarter of 2016. Assets under management amounted to $26 billion as of September 30, 2017 (63% related to end customers and 37% to the sales network ), an increase of $1,2 billion compared to September 30, 2016. Net income was $86 million (+9 million compared to a year ago).
