Steady start for CNH Industrial
By Sarah Ann McCay11 May 2014
CNH Industrial's first quarter 2014 revenues totalled US$7.54 billion (€5.47 billion), compared to its first quarter 2013 figures of US$7.51 billion (€5.45 billion).
Operating profit for industrial activities for the quarter was US$412 million (€300 million), down from US$421 million (€305 million) for the same period in 2013.
Net income was US$101 million (€73 million), down 11% on 2013’s US$111 million (€80 million).
Net sales for Construction Equipment, which includes Case Construction and New Holland Construction, were US$774 million (€562 million) for the quarter, up 2.7% as industry unit demand increased in every region except Latin America.
The geographic distribution of net sales for the period was 38% for North America; 20% Europe, Middle East & Africa; 31% Latin America; and 11% for Asia Pacific.
Construction Equipment reported an operating profit of US$3 million (€2.2 million) compared to a US$26 million (€19 million) loss for the first quarter of 2013.