CNH Industrial beats by $0.03, misses on revs; reaffirms FY19 EPS guidance, in-line (10.47)
- Reports Q1 (Mar) earnings of $0.18 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.15; revenues fell 4.7% year/year to $6.46 bln vs the $6.76 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY19, sees EPS of $0.84-0.88 vs. $0.86 S&P Capital IQ Consensus
- Co also reaffirms net sales of Industrial Activities at ~$28 billion, modestly up year-over-year
- The general sentiment in the agricultural end-markets remains muted in the short-term, primarily as a result of uncertainties related to unresolved trade tensions, the spillover implications of recent negative weather events (Australia and Northern Europe), and geopolitical and macroeconomic uncertainties
- Positive indications exist in the North American non-residential construction industry, as well as in the healthy end-user demand in Europe for light-duty trucks, and the acceleration of the LNG heavy-duty trucks penetration