The agriculture adjusted EBIT margin was at 14.7 per cent
CNH Industrial, a global leader in capital goods, has posted consolidated revenues of $8.9 billion in Q2 2021 (up 60 per cent compared to Q2 2020). The net income was registered at $699 million, adjusted diluted EPS of $0.42 and adjusted EBIT of industrial activities of $699 million (up $757 million). The company has $1.0 billion free cash flow of industrial activities.
The net sales of industrial activities of $8,490 million, was up 65 per cent, with a solid performance from all segments, as a result of higher volumes driven by strong industry demand and price realisation. The adjusted EBIT of industrial activities was reported at $699 million (loss of $58 million in Q2 2020), with all segments up year over year. The agriculture adjusted EBIT margin was at 14.7 per cent.
The company registered an 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). The reported income tax expense was at $188 million, with an adjusted effective tax rate (adjusted ETR) of 25 per cent.
Scott Wine, CEO, CNH Industrial, “Our industry is clearly in a cyclical upturn and the sound fundamental performance of our businesses and operations is enabling us to capture much of the benefit. The robust environment contributed to growth across AG, CE, and C&SV order books, which also reflected the excellent Q2 performance of each of these businesses.”
