CNH Industrial Posts 2.9-Percent Revenue Increase in Second Quarter
CNH Industrial posted consolidated revenues of $6,948 million for the second quarter of 2017, a 2.9-percent increase compared to the second quarter of 2017.
CNH Industrial posted consolidated revenues of $6,948 million for the second quarter of 2017, a 2.9-percent increase compared to the second quarter of 2017. Net sales of the Industrial Activities division were $6,655 million in the quarter, a 3.2-percent jump compared to last year. Reported net income was $247 million for the quarter. Operating profit of Industrial Activities was $481 million, a $28 million year-over-year leap.
The construction division leaped 13.6 percent from $595 million in Q216 to $676 million in the recently concluded quarter. CNH attributed the rise to improvement in the NAFTA and Asia Pacific markets.
During the first half of 2017, market conditions across CNH’s major segments have been better than expected. Therefore, the company is leading its 2017 guidance for sales and EPS to the upper end of its predicted range, while keeping the net industrial debt guidance unchanged at approximately $24 billion net sales for Industrial Activities.
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.
