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CNH Industrial Reports Lower Revenues
USAgNet - 05/03/2016

CNH Industrial N.V. announced consolidated revenues of $5.3 billion for the first quarter 2016, down 5.7% compared to the first quarter 2015 on a constant currency basis. Net sales of Industrial Activities were $5 billion in Q1 2016, down 5.7% compared to the same period in 2015 on a constant currency basis.

Operating profit of Industrial Activities was $178 million for the first quarter, a $45 million decrease compared to the same period in 2015, with an operating margin of 3.5%, down 0.5 p.p. compared to the first quarter 2015.

"Given market conditions, we are pleased with the performance of our operating segments this quarter," said Richard Tobin, Chief Executive Officer of CNH Industrial. "While we continue to navigate challenging trading conditions in the agricultural equipment industry, we are encouraged by the improved operating profits and margins in our other industrial segments compared to last year."

Net loss was $513 million for the quarter, or -$0.38 per share, after recording the previously announced exceptional non-tax deductible charge of $502 million related to the investigation of the company's wholly-owned subsidiary, Iveco S.p.A., and its competitors by the European Commission for certain alleged anticompetitive practices and related matters.


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