CNH Industrial posted Q1 2015 revenues of $5.96 billion, down 21 percent compared to Q1 2014.
Sales of construction equipment fell 22.2 percent, to $602 million for the quarter. The geographic distribution of sales was 53 percent NAFTA, 21 percent EMEA, 17 percent LATAM and 9 percent APAC.
In Q1 2015, construction equipment’s worldwide heavy and light industry sales were down 19 percent and 4 respectively, respectively. Industry heavy and light equipment sales were up in NAFTA and EMEA, but down in LATAM and APAC. Construction equipment’s worldwide market share was mainly in line with prior year for heavy and light construction equipment in all regions except for LATAM, where municipality-driven demand declined significantly, the company reported.
Construction equipment reported breakeven operating profit compared to $3 million gain for Q1 2014, as improved profits in NAFTA and EMEA and a reduction of structural costs were able to offset the negative effects of the challenging trading conditions in LATAM.