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1ST HALF: CNH INDUSTRIAL'S REVENUES DOWN 21%, REPORTS A LOSS
Source: CNH Industrial news release

CONSOLIDATED RESULTS

Consolidated revenues of $5.6 billion in the second quarter of 2020, down 26% compared to the second quarter of 2019 (down 23% at constant currency)

Reported net income of $361 million (or $0.26 per share) in the second quarter of 2020 including a gain of $1,475 million from the remeasurement to fair value of the investment in Nikola Corporation (NKLA), partially offset by $840 million of non-cash impairment charges primarily related to the goodwill allocated to Construction, as well as asset optimization charges of $282 million, mainly as a result of the adverse COVID-19 impacts on used trucks final markets in Europe

Adjusted net loss of $85 million in the second quarter of 2020 compared to adjusted net income of $430 million in the second quarter of 2019

Adjusted diluted earnings per share(2)(3) loss of $0.07 in the second quarter of 2020 compared to adjusted diluted earnings per share of $0.31 in the second quarter of 2019

On June 15, Fitch Ratings ("Fitch") affirmed CNH Industrial N.V. and CNH Industrial Capital LLC's long-term issuer default rating at "BBB-" and changed the outlook to stable from positive

To read the entire report click here.


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