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2018 First Quarter Results


CNH Industrial reported 2018 first quarter consolidated revenues up 17% to $6.8 billion, net income at $202 million, or $0.14 per share. Net industrial debt(3)(4) at $1.9 billion​​​

Financial results presented under U.S. GAAP(1)(2)​​​

  • Industrial Activities net sales up 19% (up 11% on a constant currency basis) driven by strong performance in all segments​​
  • Adjusted EBITDA(3)(4) of Industrial Activities increased 40% to $547 million, with an adjusted EBITDA margin of 8.7%​​
  • Adjusted net income(3)(4) was $204 million in the first quarter of 2018, with adjusted diluted EPS(3)(4) of $0.14​​​
  • Net industrial debt was $1.9 billion at March 31, 2018, $1.0 billion higher than at December 31, 2017 as a result of normal seasonality in working capital in the first quarter​​
  • Full year guidance increased to the upper-end of the range, with net sales of Industrial Activities of approximately $28 billion and adjusted diluted EPS of $0.65-0.67. Net industrial debt guidance confirmed to between $0.8 billion and $1.0 billion​


Summary of Results
($ million except EPS)
Three Months ended March 31,
Net income (loss)
Adjusted net income
Basic EPS ($)
Diluted EPS ($)
Adjusted diluted EPS ($)

 ​London (UK) – (April 27, 2018) CNH Industrial N.V. (NYSE:CNHI / MI:CNHI) today announced consolidated revenues of $6,773 million for the first quarter of 2018, up 17% compared to the first quarter of 2017. Net sales of Industrial Activities were $6,300 million in the first quarter of 2018, up 19% compared to the first quarter of 2017. Net income was $202 million for the first quarter of 2018.

​​Adjusted net income was $204 million for the first quarter of 2018 compared to $55 million in the first quarter of 2017, with an adjusted diluted EPS of $0.14 ($0.04 in the first quarter of 2017).​


(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) On January 1, 2018, the Company adopted, on a retrospective basis, updated FASB accounting standards for revenue recognition (ASC 606), retirement benefits accounting (ASU 2017-07) and cash flow presentation (ASU 2016-18) and began using Adjusted EBIT and Adjusted EBITDA. Please refer to “About this Press Release” section of this press release for additional information.

(3) This item is a non-GAAP financial measure. Refer to the “About this Press Release” and “Non-GAAP Financial Information” sections of this press release for information regarding non-GAAP financial measures.

(4) ​Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-GAAP financial measure and the most comparable GAAP financial measure.


  • 2018 First Quarter Results