Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   

AGRO PHOTO

FIELD DAY CONTINENTAL FARMERS GROUP
 


Home > News

CNH Industrial reported consolidated revenues of $5.6 billion, net income of $361 million and adjusted net loss of $85 million

30.07.2020 15:50 "Agro Perspectiva" (Kyiv) 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 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 LLCs long-term issuer default rating at «BBB-» and changed the outlook to stable from positive

INDUSTRIAL ACTIVITIES

Net sales of $5.2 billion in the second quarter of 2020, down 27% compared to the second quarter of 2019 (down 24% on a constant currency basis), due to severe adverse COVID-19 impacts on supply chain and market conditions across all regions and segments

Adjusted EBIT(2)(3) loss of $58 million in the second quarter of 2020 compared to adjusted EBIT of $527 million in the second quarter of 2019, strongly impacted by industry demand disruption, negative absorption caused by plant shutdowns and other actions to lower inventory levels, only partially offset by reduced selling, general and administrative expenses and deferral of certain research and development expenses not related to new product launches

Net debt at June 30, 2020 of $2.3 billion, in line with March 31, 2020 despite the adverse impacts of COVID-19, as a result of positive free cash flow of $97 million and a variety of cash preservation measures

COVID-19 RELATED MATTERS

All plants and depots resumed activities in May 2020, with safety protocols in place

Continued social distancing rules in place with a gradual return to the office for employees who are able to work from home

Continued support to communities

Financial Services offered payment deferrals and debt rescheduling to the Companys customers and dealers

Agro Perspectiva

< Govt approves macroeconomic forecast with 4.6% GDP growth in 2021 All news for
30.07.2020
FAO unveils platform to help accelerate action on reducing food loss and waste >

28.09.2020  
17:15 Czech Republic Sees Solid Harvest Despite Initial Drought
23.09.2020  
14:55 Russian Federation. Steady demand for chicken meat and ample feed supplies are expected to lift production to 4.725 MMT in 2021
14:40 World peach and nectarine production is forecast down 1.1 million metric tons to 21.0 million
22.09.2020  
12:15 High-level roundtable calls for strengthened collaboration in the Near East and North Africa
12:09 State Statistics Service confirms assessment of Ukraine's GDP fall at 11.4% in Q2 2020
11:45 Belarus plants half of area under winter grain
11:20 Fitch affirms Kernel at 'BB-', outlook stable
11:11 Consumer confidence of Ukrainians continue improving in Aug study
17.09.2020  
17:15 Development of secondary govt bond market could solve problem of financing of state budget 2021 deficit member of NBU Council
16:25 Drought Continues to Stymie Romanian Oilseeds
16:15 Private Exporters Report Sales Activity for China and Unknown Destinations
16.09.2020  
15:30 Case IH Adds New Configurations to Seeding and Planting Portfolios
14:20 COVID-19 impacts driving up acute hunger in countries already in food crisis
13:25 J.P. Morgan expects Ukraine's GDP to fall by 4% in 2020, grow by 6% in 2021
15.09.2020  
16:15 Belarus Expanded Crush Capacity Drives Soybean
15:45 The world is falling behind on SDGs
11.09.2020  
16:20 Money supply in Ukraine expands by 0.7% in Aug
14:12 Asia-Pacific countries pledged bold and innovative action for food security and livelihoods
13:35 FAS Cairo (Post) forecasts Egypts wheat production in MY 2020/2021 to reach 8.9 MMT
13:30 Fall of Ukraine's GDP slows down to 6.2% in seven months Economy Ministry
12:00 Hot testing starts at Chernobyl spent-fuel storage
10.09.2020  
16:15 Private exporters reported to export sales of 195,000 metric tons of soybeans
16:10 BASF New Business and G-Philos sign MoU for cooperation in power-to-gas (P2G) business
09.09.2020  
13:33 PrivatBank remains most profitable Ukrainian bank, Ukreximbank unprofitable in seven months
07.09.2020  
15:00 NBU retains grain harvest forecast at 72 mln tonnes in 2020
13:25 EBRD providing 10 million loan to Ukraines Agrofusion
05.09.2020  
09:45 Cereal supplies to remain ample in 2020/21 despite this months cut in global production forecast
09:25 International quotations for sugar, vegetable oils and coarse grains increased from July
04.09.2020  
11:17 EBRD providing EUR10 million loan to Ukraines Agrofusion
03.09.2020  
12:00 Deere completes Unimil acquisition
02.09.2020  
16:00 Agroton sees $3.6 mln in net loss in H1 2020
11:40 The Nature Conservancy, Cargill, McDonalds and Target unite to support Nebraska farmers regenerative agriculture practices to invest in an even more sustainable beef supply chain
01.09.2020  
17:07 EBRD launches assessment tool to help mitigate coronavirus impact
28.08.2020  
10:29 EBRD supports green expansion of Ukrainian retailer Novus
26.08.2020  
16:15 Private Exporters Report Sales Activity for China
16:00 In 2021, Mexicos chicken meat production is expected to increase by almost 3 percent
25.08.2020  
14:10 More than 3 million people facing acute food insecurity as Burkina Faso grapples with COVID-19 and conflict
12:35 Cherry production forecast in Turkey in MY 2020/21 is 918,000 MT
19.08.2020  
16:25 Ukraine ready to expand agricultural exports to Israel - Stefanishyna
16:11 Private Exporters Report Sales Activity for China
18.08.2020  
16:16 Private Exporters Report Sales Activity for China and Unknown Destinations
15:45 France's Sugar Beet Crop Devastated by Disease - Sugar Industry's Viability Threatened
13:35 Economy Ministry sets maximum volume of wheat exports for current season at 17.5 mln tonnes
13:20 EBRD strengthens regional agribusiness value chains
17.08.2020  
16:10 Cabinet approves program for reforming and developing alcohol industry for 2020-2023
12:50 Hong Kong Banned Imports from a Brazilian Poultry Plant due to Coronavirus
14.08.2020  
12:25 North Africa Projected to Be Top Wheat Importing Region
11:55 China Peanut Imports Reach Record High in 2019/20
13.08.2020  
10:56 ASTARTAs consolidated revenues amounted to EUR172m in the 1H20 with exports share of 53%
12.08.2020  
10:45 Cargill works to positively impact communities where employees live and work

Also available: 

Agrarian Week in digital



READ ON-LINE




NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2020 © Agrarika, ltd.
tel.: +380 44 4868119; +380 44 5934540
e-mail: client@agroperspectiva.com