CNH Reports Strong Q4
The CNH Industrial team delivered a strong fourth quarter contributing to record full year revenue and income. Sharp execution and improving supply chain management generated $1.6B of full year industrial free cash flow.
- Q4 Consolidated revenues of $6,943 million (up 26.7% compared to Q4 2021 for continuing operations)
- Net income of $592 million, Adjusted Net Income of $486 million, with diluted EPS of $0.43 and adjusted diluted EPS of $0.36
- Adjusted EBIT of Industrial Activities of $680 million (up $302 million compared to Q4 2021)
“We are pleased to have resolved the UAW strike and are eager to continue delivering increased value to our dealers and customers. We also announced today our intention to move to a single listing in New York, with plans to exit the Milan exchange as expeditiously as possible,” said Scott W. Wine, Chief Executive Officer.
Agriculture Net Sales: Up 29%, due to favorable price realization, higher sales volumes and better product mix, mostly driven by the North America, South America and Europe regions partially offset by negative impact of foreign exchange rates.
Construction: Net sales were up 17%, driven by positive sales volume, favorable price realization, and contribution from the Sampierana business, partially offset by negative impact of foreign exchange rates.
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