CNH Industrial posted consolidated revenues of $7.567 billion in the second quarter compared to $8.045 billion in the same period a year ago, a 5.9-percent decrease. For the first six months of 2019, total revenue was $14.024 billion, compared to $14.818 billion in the first six months of 2018, a 5.4-percent slide.
The Industrial Activities divsion posted net sales of $7.1 billion, a 7-percent year over year decline, with positive price realization more than offset by lower sales volume and negative currency translation impact. Adjusted EBIT of Industrial Activities was $527 million, with a 7.5-percent margin, flat compared to the second quarter of 2018. Adjusted EBITDA of Industrial Activites was $768 million, with a 10.9-percent margin.
CNHI’s chief executive Huburtus Muhlhauser said the company was facing negative effects from trade disputes and weather events caused by climate change, but that uncertainties were lessening.
“If there is a silver lining here, it would be that our visibility into the effects of these headwinds are a bit clearer than they were some time ago,” Muhlhauser said.