RISULTATI DEL SECONDO TRIMESTRE 2021

Rhea-AI Summary

CNH Industrial reported robust second quarter 2021 results with consolidated revenues of $8.9 billion, marking a 60% increase year-over-year. Net income reached $699 million, and adjusted diluted EPS was $0.42. The company achieved $1.0 billion in free cash flow, reflecting strong operating performance. Net sales of Industrial Activities hit $8,490 million, up 65%. All segments showed positive growth, with notable performance in Agriculture at a 14.7% adjusted EBIT margin. Available liquidity stood at $14.4 billion as of June 30, 2021.

Positive

• Consolidated revenues of $8.9 billion, up 60% from Q2 2020.
• Net income of $699 million, up from a net loss in Q2 2020.
• Adjusted diluted EPS at $0.42, recovering from a loss of $0.07 in Q2 2020.
• Free cash flow of $1.0 billion, indicating strong operational performance.
• Positive performance across all segments, particularly Agriculture with a 14.7% EBIT margin.
• Total debt reduced to $24.5 billion from $26.1 billion since December 2020.
• Available liquidity at $14.4 billion as of June 30, 2021.

Negative

• None.

The following is an extract from the “CNH Industrial 2021 second quarter results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: https://www.cnhindustrial.com/en-us/media/press_releases/Pages/default.aspx or consulting the accompanying PDF:

CNH Industrial reports strong second quarter performance. Consolidated revenues of $8.9 billion (up 60% compared to Q2 2020), net income of $699 million, adjusted diluted EPS of $0.42, and adjusted EBIT of Industrial Activities of $699 million (up $757 million). $1.0 billion free cash flow of Industrial Activities.

Financial results presented under U.S. GAAP

Net sales of Industrial Activities of $8,490 million, up 65%, with solid performance from all segments, as a result of higher volumes driven by strong industry demand and price realization.

Adjusted EBIT of Industrial Activities of $699 million (loss of $58 million in Q2 2020), with all segments up year over year. Agriculture adjusted EBIT margin at 14.7%. Adjusted EBIT of $100 million for Commercial and Specialty Vehicles, $74 million for Powertrain and $24 million for Construction.

Adjusted net income of $583 million, with adjusted diluted earnings per share of $0.42 (adjusted net loss of $85 million in Q2 2020, with adjusted diluted loss per share of $0.07).

Reported income tax expense of $188 million, with adjusted effective tax rate (adjusted ETR) of 25%.

Free cash flow of Industrial Activities was positive $1.0 billion due to the strong operating performance. Total Debt of $24.5 billion at June 30, 2021 ($26.1 billion at December 31, 2020). Industrial Activities net cash position at $1.4 billion, an increase of $0.8 billion from March 31, 2021.

Available liquidity at $14.4 billion as of June 30, 2021. In May 2021, CNH Industrial paid €150 million (~$180 million) in dividends to shareholders. In the same month, CNH Industrial Capital LLC issued $600 million in aggregate principal amount of 1.450% notes due 2026.

Attachment

• 20210730_PR_CNH_Industrial_Q2_ 2021

FAQ

What were CNHI's Q2 2021 revenues?

CNH Industrial reported consolidated revenues of $8.9 billion in Q2 2021.

How much was CNHI's net income for Q2 2021?

CNH Industrial's net income for Q2 2021 was $699 million.

What was the adjusted diluted EPS for CNHI in Q2 2021?

The adjusted diluted earnings per share for CNH Industrial in Q2 2021 was $0.42.

What is CNHI's free cash flow for Q2 2021?

CNH Industrial reported a free cash flow of $1.0 billion for Q2 2021.

How does CNHI's Q2 2021 performance compare to Q2 2020?

CNH Industrial's Q2 2021 performance showed significant improvement, with revenues and net income recovering from a loss in Q2 2020.