CNH Industrial reported its fourth quarter earnings on Feb. 2, including $6.9 billion in consolidated revenue and $5.4 billion in agriculture revenue.
Net sales of Industrial Activities were $6,352 million, up 27.2% mainly due to favorable price realization and higher sales volumes, despite more than 4% adverse currency conversion impacts.
Net income for the quarter was $592 million, with diluted earnings per share of $0.43 (net income of $464 million in Q4 2021, with diluted earnings per share of $0.34). Adjusted net income was $486 million.
Adjusted EBIT of Industrial Activities was $680 million, with both segments up year over year. Agriculture adjusted EBIT margin was at 13.1% and Construction at 3.5%.
Gross profit margin of Industrial Activities came in at 21.6%, (19% in Q4 2021) with improvement in Agriculture and Construction despite continued cost pressures.
Revenue for the full year 2022 was $23.6 billion (vs. $19.5 billion in 2021). Ag revenue for the year was $18 billion, up 21.8% from $14.8 billion in 2021.
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