May 6, 2020 / 12:26 PM / a month ago

BRIEF-CNH Industrial Q1 Adj. EBIT Of Industrial Activities Loss Of USD 148 Mln

May 6 (Reuters) - Cnh Industrial:

* Q1 ADJUSTED EBIT OF INDUSTRIAL ACTIVITIES LOSS USD 148 MILLION VERSUS PROFIT USD 34 MILLION IN REUTERS POLL

* Q1 REVENUES OF INDUSTRIAL ACTIVITIES USD 5.0 BILLION VERSUS USD 4.81 BILLION IN REUTERS POLL

* NET INDUSTRIAL DEBT AT USD 2.3 BILLION AT END-MARCH

* Q1 NET LOSS USD 110 MILLION VERSUS PROFIT USD 13 MILLION IN REUTERS POLL

* TRANSFORM2WIN STRATEGY, INCLUDING SPIN-OFF OF ON-HIGHWAY ACTIVITIES, CONFIRMED, WHILE ORIGINAL TIMELINE FOR IMPLEMENTATION OF SUCH SPIN-OFF WILL BE EXTENDED BECAUSE OF MARKET CONDITIONS

* 2020 FULL YEAR GUIDANCE WITHDRAWN ON MARCH 30, 2020. NO NEW GUIDANCE ISSUED

* COVID-19 PANDEMIC IS LIKELY TO HAVE A MATERIAL IMPACT ON FUTURE FINANCIAL POSITION, RESULTS OF OPERATIONS AND LIQUIDITY

* EXTENT OF IMPACT CANNOT BE REASONABLY ESTIMATED AT THIS TIME

* OUR AVAILABLE LIQUIDITY POSITION WAS $9.9 BILLION AT MARCH 31, 2020 - CEO

* COMPANY HAS RECENTLY DEMONSTRATED ITS ABILITY TO ACCESS FUNDING PROGRAMS ENACTED BY GOVERNMENTS AS PUBLIC RESPONSES TO THE COVID-19 OUTBREAK - CEO

* NET DEBT AT END-MARCH IMPACTED BY SEASONAL WORKING CAPITAL ABSORPTION AND COVID-19

* Q1 ADJUSTED EBIT STRONGLY IMPACTED BY DEMAND DISRUPTIONS IN MARCH, PLANT SHUTDOWNS, AND ACTIONS TO LOWER INVENTORY

* AT THIS POINT IN TIME IT IS NOT POSSIBLE TO FORECAST FUTURE SHORT AND LONGER TERM DEMAND IN OUR KEY MARKETS

* Q1 SALES IMPACTED BY COVID-19 ACROSS ALL REGIONS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below