CNHI has suffered a revenue setback of 22% to less than $7bn in Q2 and 22% to $12.9bn in H1. The US dollar strength had a negative impact of around 13pp, i.e. revenue fell by around 10% on a constant-currency basis. Operating profit was down by around 38% in both periods yielding $751m in H1. Net profit after minorities fell by almost 70% to $146m. We had expected sales of $13.7bn, EBIT of $890m, and net earnings of $335m. As a result of these numbers, management is not changing its full-year
29 Jul 2015
Horrible H1 15 revenue and profit numbers
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Horrible H1 15 revenue and profit numbers
CNH Industrial NV (CNHI:WBO) | 0 0 0.6% | Mkt Cap: 18,994m
- Published:
29 Jul 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
CNHI has suffered a revenue setback of 22% to less than $7bn in Q2 and 22% to $12.9bn in H1. The US dollar strength had a negative impact of around 13pp, i.e. revenue fell by around 10% on a constant-currency basis. Operating profit was down by around 38% in both periods yielding $751m in H1. Net profit after minorities fell by almost 70% to $146m. We had expected sales of $13.7bn, EBIT of $890m, and net earnings of $335m. As a result of these numbers, management is not changing its full-year