The following is an extract from the “CNH Industrial 2019 fourth quarter and full year results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: https://www.cnhindustrial.com/en-us/media/press_releases/Pages/default.aspx or consulting the accompanying PDF:CNH Industrial reports 2019 Consolidated revenues of $28.1 billion,
Net income of $1,454 million and Adjusted net income of $1,178 million (or $0.84 per share).
Net debt of Industrial Activities at $854 millionFinancial results presented under U.S. GAAPCONSOLIDATED RESULTSConsolidated revenues of $28.1 billion in 2019, down 6% year-over-year on reported basis and down 2% at constant currencyNet income of $1,454 million in 2019, up $355 million compared to 2018, after $274 million of pre-tax charges ($222 million after-tax) related to the “Transform2Win” strategy, and the positive impact of a previously announced $539 million discrete tax benefit recognized in the third quarterAdjusted net income of $1,178 million, up $61 million (up 5%) compared to 2018Adjusted diluted earnings per share of $0.84, up 5% compared to 2018Total of $332 million returned to shareholders in 2019 through cash dividends and share buy-backRecommended annual cash dividend of €0.18 (or $0.20) per common share flat to 2019INDUSTRIAL ACTIVITIESNet sales of $26.1 billion in 2019, down 6% compared to 2018 (down 2% on a constant currency basis), as lower sales volume due to weak industry demand and dealer inventory reduction actions in our Agriculture and Construction segments more than offset positive price realization across the businessAdjusted EBIT of $1,390 million in 2019, representing a 5.3% margin, down 40 basis points compared to 2018, mainly due to unfavorable volume and mix as well as raw material headwinds, which more than offset positive pricing and cost management actionsNet debt at December 31, 2019 of $854 million, up by $255 million from December 31, 2018, due to higher working capital and cash investments related to the M&A activity performed during the yearFULL YEAR 2020 GUIDANCENet sales of Industrial Activities in constant currency flat to slightly down versus 2019Adjusted diluted EPS between $0.78 and $0.86Free cash flow of Industrial Activities between $400 million and $600 millionAttachment20200207_PR_CNH_INDUSTRIAL_Q4&FY_2019
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