CNH Industrial reported consolidated revenues of $8.5 billion, up 10 percent since the last period, according to the company. Net income of $187 million, up 56 percent since the last period.
Net sales of industrial activities reached $8 million, up 12 percent due to higher volumes and favorable price realization, mainly in agriculture and commercial and specialty vehicles, according to the company.
Global demand for construction equipment increased in all sub-segments. Net sales reached $752 million, up 6 percent from 2019 as a result of higher volume and positive price realization. Compact and service equipment rose by 17 percent, general construction equipment up 24 percent, and road building and site preparation equipment up 4 percent. Demand increased 33 percent in the rest of world (+51 percent in China) and 10 percent in North America, but decreased 4 percent in both Europe and South America.
The Covid-19 pandemic continues to impact the global economy. The Company’s 2021 outlook assumes an improvement in economic conditions as populations and markets adjust to the new circumstances. It expects net sales up between 8 percent and 12 percent year on year including currency translation effects.