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2016 Third Quarter Results

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CNH Industrial 2016 third quarter revenues of $5.7 billion, with net income of $39 million and net industrial debt of $2.7 billion at quarter-end

Financial results presented under U.S. GAAP(1)

  • Adjusted net income(2)(3) was $68 million in the third quarter of 2016, with adjusted diluted EPS(2) of $0.05
  • Operating profit(2) of Industrial Activities was $248 million in the third quarter of 2016, with operating margin of 4.5%; year-over-year operating profit and margin improvements were achieved in Agricultural Equipment, Powertrain and Commercial Vehicles
  • In the quarter the Company repurchased $450 million in principal amount of 7.875% Notes due 2017, and issued $600 million in principal amount of 4.50% Notes due 2023
  • CNH Industrial announced today its agreement to acquire the agricultural grass and soil implement business of Kongskilde Industries to expand its offering in tillage, seeding and hay & forage segments
  • Full year guidance reaffirmed

 

Summary of Results
($ million except EPS)
Nine Months Ended September 30
 
Three Months Ended September 30,
2016
2015
Change
 
2016
2015
Change
17,874
18,768
-4.8%
Revenues
5,749
5,850
-1.7%
(345)
17
-362
Net income (loss)
39
(128)
167
285
212
73
Adjusted net income
68
38
30
(0.25)
0.02
-0.27
Basic EPS ($)
0.03
(0,09)
0.12
(0.25)
0.02
-0.27
Diluted EPS ($)
0.03
(0.09)
0.12
0.21
0.16
0.05
Adjusted diluted EPS ($)
0.05
0.03
0.02



(1) CNH Industrial reports quarterly and annual consolidated financial results under U.S. GAAP and EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with U.S. GAAP. Financial results under EU-IFRS are shown in specific tables at the end of this press release.

(2) This item is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Information” section of this press release for information regarding non-GAAP financial measures.

(3) Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between “Net income (loss)” and “Adjusted net income”.

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  • 2016 Third Quarter Results