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NINE MONTHS: CNH INDUSTRIAL'S SALES UP 10%, NET EARNINGS UP 145%
Source: CNH Industrial news release

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CNH Industrial N.V. (NYSE:CNHI / MI:CNHI) today announced consolidated revenues of $6,686 million for the third quarter of 2018, in line with the third quarter of 2017. Net sales of Industrial Activities were $6,245 million in the third quarter of 2018, flat compared to the third quarter of 2017 (up 4% on a constant currency basis).

Net income of $231 million for the third quarter of 2018 included a pre-tax gain of $30 million ($23 million net of tax impact) as a result of the amortization over approximately 4.5 years of the $527 million positive impact from the modification of a healthcare plan following the favorable judgment issued by the United States Supreme Court, as previously announced by the Company on April 16, 2018.

In the third quarter of 2017, net income included a charge of $39 million related to the repurchase of Notes, as well as $53 million of restructuring charges (compared to $8 million in the third quarter of 2018).

Adjusted net income was $222 million for the third quarter of 2018 compared to $151 million in the third quarter of 2017, with an adjusted diluted EPS of $0.16 ($0.11 in the third quarter of 2017).

Adjusted EBIT of Industrial Activities was $321 million in the third quarter of 2018, an increase of $63 million (or up 24%) compared to the third quarter of 2017. Adjusted EBIT margin increased 1.0 percentage points ("p.p.") to 5.1%.

Adjusted EBITDA of Industrial Activities was up 13% to $591 million for the third quarter of 2018 compared to $522 million in the third quarter of 2017, with an adjusted EBITDA margin of 9.5%, up 1.1 p.p. compared to the third quarter of 2017, as a result of improvements in operating profitability.


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