CNH Industrial delivered record results in its first year as pure play in Agriculture and Construction. Consolidated revenues of $23,551 million were up 20.8%, up (24% at constant currency), with a net income of $2,039 million. Also consolidated Q4 revenues were strong with $6,943 million, up 26.7% compared to Q4 2021 for continuing operations.
“The CNH Industrial team delivered a strong fourth quarter contributing to record full year revenue and income”, says Scott W. Wine, Chief Executive Officer. “Sharp execution and improving supply chain management generated $1.6B of full year industrial free cash flow. We are pleased to have resolved the UAW strike and are eager to continue delivering increased value to our dealers and customers.”
“We also announced our intention to move to a single listing in New York, with plans to exit the Milan exchange as expeditiously as possible. Our precision and autonomy offerings were on full display at our Tech Day in December, and further innovations and integration with Raven will drive the success of our farm and construction customers. We see continuing strength in most end markets, and with better performing supply chains and moderating inflation we are confident we will build on our robust foundation”, Wine concludes.
