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CNH Industrial profit beats consensus by 42.4% in Q1

CNH Industrial NV said its first-quarter normalized net income amounted to 5 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS rose 125.8% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $64.5 million, an increase of 126.3% from $28.5 million in the year-earlier period.

The normalized profit margin increased to 1.2% from 0.6% in the year-earlier period.

Total revenue climbed 6.1% on an annual basis to $5.38 billion from $5.08 billion, and total operating expenses increased 5.7% on an annual basis to $5.21 billion from $4.92 billion.

Reported net income came to $41.0 million, or 3 cents per share, compared with a loss of $517.9 million, or a loss of 38 cents per share, in the prior-year period.