Earnings Call Summary | CNH Industrial(CNHI.US) Q1 2024 Earnings Conference
Earnings Call Summary | CNH Industrial(CNHI.US) Q1 2024 Earnings Conference
The following is a summary of the CNH Industrial N.V. (CNHI) Q1 2024 Earnings Call Transcript:
以下是CNH工业公司（CNHI）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
CNH's Q1 revenues decreased by 10%, with industrial net sales suffering a 14% drop due to lower demand and dealer stock.
The EBIT margin for the industrial sector decreased by 180 basis points to under 10%.
Shipments declined, resulting in a decremental margin in the mid-20s.
Adjusted EPS was reduced to $0.33, a $0.02 decrease from the prior year.
The company saw an outflow of $1.2 billion in industrial free cash flow, largely due to a build-up of finished product inventory for Q2.
Net income from the Financial Services business increased thanks to market gains and improved volumes.
CNH bought back $580 million worth of its stock during Q1, completed a $1 billion extraordinary buyback program, and initiated a $500 million program in March.
The EPS forecast was lowered by $0.05 to range between $1.45 and $1.55.
CNH第一季度的收入下降了10％，由于需求减少和经销商存量，工业净销售额下降了14％。
工业部门的息税前利润率下降了180个基点，至10％以下。
出货量下降，导致20年代中期利润率下降。
调整后的每股收益降至0.33美元，比上年下降0.02美元。
该公司的工业自由现金流流流出12亿美元，这主要是由于第二季度成品库存的增加。
由于市场上涨和交易量的增加，金融服务业务的净收入有所增加。
CNH在第一季度回购了价值5.8亿美元的股票，完成了10亿美元的特别回购计划，并于3月启动了一项5亿美元的计划。
每股收益预测下调了0.05美元，至1.45美元至1.55美元之间。
Business Progress:
业务进展：
The company adopted cost-cutting measures during Q1 due to a cyclical downturn, focusing on enhancing cost efficiency.
CNH continues to expand its tech team and integrates solutions from recent acquisitions, modernizing its technology stack.
The launch of the 'field ops' digital app, a tool designed to streamline farm management and internal operations.
The company collaborated with Intelsat to provide satellite connectivity for remote customers, targeting operational efficiency.
CNH commenced the first phase of a restructuring program, planning further actions to streamline commercial back-office operations.
Maintained a commitment to production cost savings through procurement, logistics, and manufacturing efficiencies.
The company capitalized on market share gains and improved execution during Q1, aiming to carry this momentum forward.
Intelsat's services integration will significantly benefit Brazilian markets, and new initiatives, including the launch of its CR 11 machine and upgrading North American tractor platforms, are expected to enhance future market shares.
The company plans to finalize ongoing restructuring in the second quarter.
由于周期性低迷，该公司在第一季度采取了削减成本的措施，重点是提高成本效率。
CNH继续扩大其技术团队，整合最近收购的解决方案，对其技术堆栈进行现代化改造。
推出 “野外作业” 数字应用程序，该工具旨在简化农场管理和内部运营。
该公司与Intelsat合作，为远程客户提供卫星连接，以提高运营效率为目标。
CNH启动了重组计划的第一阶段，计划采取进一步行动以简化商业后台业务。
坚持通过采购、物流和制造效率节省生产成本的承诺。
该公司利用了第一季度的市场份额增长和执行力的改善，旨在将这一势头继续向前发展。
Intelsat的服务整合将使巴西市场受益匪浅，包括推出CR 11机器和升级北美拖拉机平台在内的新举措预计将增加未来的市场份额。
该公司计划在第二季度完成正在进行的重组。
More details: CNH Industrial IR
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