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CNH Industrial Q3 profit climbs 117.7% YOY

CNH Industrial NV said its normalized net income for the third quarter was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS increased 117.3% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $104.8 million, an increase of 117.7% from $48.1 million in the year-earlier period.

The normalized profit margin increased to 1.7% from 0.9% in the year-earlier period.

Total revenue grew 15.9% year over year to $6.33 billion from $5.46 billion, and total operating expenses climbed 15.3% from the prior-year period to $6.06 billion from $5.26 billion.

Reported net income rose 33.5% year over year to $54.6 million, or 4 cents per share, from $40.9 million, or 3 cents per share.