CNH Industrial N.V. posted consolidated revenues of $29.706 billion for the full year 2018, a 7-percent increase compared to 2017 on a constant currency basis. Net sales of Industrial Activities were $27.831 billion, up 8 percent year over year. In the fourth quarter of 2018, consolidated revenues were $8.202 billion, in line with the same period in 2017, and up 3 percent on a constant currency basis. Net sale of Industrial Activities were $7.707 billion in the fourth quarter, flat compared to the fourth quarter of 2017.
Sales of construction equipment increased 7.1 percent to $814 million in the fourth quarter and jumped 19.4 percent to $3.021 billion as a result of increased end-user demand in all regions and favorable net price realization.
Full year 2018 adjusted EBIT was $91 million, a $107 million increased compared to 2017. The increase was the result of higher sales volume, favorable mix and positive net price realization more than offsetting raw material cost increases, mainly in North America. In the fourth quarter of 2018, adjusted EBIT was $32 million, with an adjusted EBIT margin of 3.9 percent. Results were primarily impacted by positive net price realization and manufacturing efficiencies.
The 2018 performance confirms the company’s profitable growth trajectory, despite a softer macroeconomic and business environment in the second part of the year, caused by escalating trade tensions and related tariffs across global markets, other economic and political uncertainties, including the outcome of the Brexit negotiations, and a general expected slowdown in global economic growth. The company expects net sales of Industrial Activities of approximately $28 billion in 2019.
