Announcement • Aug 06
CNH Industrial N.V. Updates Earnings Guidance for the Fiscal Year 2026 CNH Industrial N.V. updated earnings guidance for the fiscal year 2026. With order slots now nearly full for the year, the company are moving net sales guidance to the high end of previous range. The company now forecast sales to be about flat year-over-year. That includes unchanged assumptions for favorable currency translation of 2% and positive pricing of 1.5% to 2%, offset by lower unit shipments as a result of the industry demand. Reported Earnings • Aug 04
Second quarter 2026 earnings released: EPS: US$0.11 (vs US$0.17 in 2Q 2025) Second quarter 2026 results: EPS: US$0.11 (down from US$0.17 in 2Q 2025). Revenue: US$4.80b (up 2.0% from 2Q 2025). Net income: US$138.0m (down 35% from 2Q 2025). Profit margin: 2.9% (down from 4.5% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Aug 01
Cnh Industrial Introduces Case Ih Fieldops, Aim Command Flex Ii and Accusync to Support Family Farms CNH Industrial has featured Moreland Farms, a fourth-generation farming operation across Oklahoma and Southern Kansas, USA, in its A Sustainable Year digital series. Moreland Farms uses Case IH FieldOps, AIM Command FLEX II and AccuSync to connect machines, monitor field activity and turn operational data into practical action. FieldOps brings machinery and field data into one digital platform; AIM Command FLEX II supports more accurate spraying by controlling individual nozzle output; and AccuSync allows multiple machines to coordinate in the same field, helping reduce overlap and missed rows. Precision spraying, automation and connected data help improve productivity, reduce unnecessary overlap and support more informed input decisions. The story shows how CNH is helping customers turn advanced technology into practical value: improving efficiency, supporting more responsible land management and enabling farmers to make confident decisions in an increasingly data-driven agricultural world. Announcement • Jul 29
CNH Industrial N.V. Announces Executive Changes CNH Industrial N.V. announced that Jay Schroeder, Chief Technology Officer, will retire from his position effective January 1, 2027, and Stefano Pampalone, Agriculture Chief Commercial Officer, will retire from his position effective September 1, 2026. Following their transitions from these roles, Mr. Schroeder and Mr. Pampalone are expected to remain with the Company in advisory capacities to support the leadership transitions. Effective January 1, 2027, Eric Shuman will be appointed Chief Technology Officer upon Mr. Schroeder's retirement. Mr. Shuman currently serves as Vice President, Precision Technology Product Management at the Company, a role he has held since June 2025. During his more than 25-year career with the Company, Mr. Shuman has held leadership roles across product management, quality, manufacturing, and global product development. Effective September 1, 2026, upon Mr. Pampalone's retirement, members of the Company's global leadership team will assume expanded responsibilities. Chun Woytera will become Chief Product & Sustainability Officer, Carlo Materazzo will become Chief Manufacturing & Quality Officer, and Markus Müller will become President, EMEA and Parts & Service. Announcement • Jul 20
CNH Industrial N.V. to Report Q2, 2026 Results on Aug 03, 2026 CNH Industrial N.V. announced that they will report Q2, 2026 results Pre-Market on Aug 03, 2026 Announcement • Jun 13
Cnh Inaugurates Advanced Virtual Simulation Ecosystem and Automated Autostore Logistics Warehouse in Modena CNH inaugurated an advanced virtual simulation ecosystem and an automated AutoStore logistics warehouse at its San Matteo R&D hub in Modena, Italy. The dual EUR 21 million investment advances CNH's core capabilities, accelerating product development through digital simulation while optimizing supply chain execution through high-speed robotics. The new simulation hub establishes a virtual-first methodology, meaning that it identifies machine design anomalies early in the product lifecycle, quickening time-to-market by over 30%. Operating as an integrated digital twin, this ecosystem minimizes engineering risks, optimizes field validation, and reduces testing emissions across three technological pillars: Dynamic Simulator – A driver-in-the-loop system on an immersive 6-axis motion platform to test complex vehicle behavior prior to physical production. Multi-Dyno Test Cell– A controlled environment validating advanced powertrain systems and electric hardware against virtual models. Advanced Sensor Test Track – A high-repeatability benchmarking facility with full weather simulation to verify precision sensors and autonomous features. Complementing the virtual R&D hub is an automated logistics center powered by an advanced AutoStore robotic retrieval system, ensuring parts availability within 24 hours for more than 1,200 dealers and workshops worldwide. The facility delivers definitive performance breakthroughs compared to traditional warehouses thanks to: Speed: Retrieval time reduced from 15 minutes to under 30 seconds, up to 550 parts per hour. Efficiency: 70% higher storage density; 85% reduction in physical strain. Sustainability: –93% annual energy savings vs previous system. New Risk • Jun 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (2.1% net profit margin). Upcoming Dividend • May 13
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 20 May 2026. Payment date: 29 May 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Italian dividend payers (4.5%). Lower than average of industry peers (1.0%). Board Change • May 12
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Elizabeth Bastoni was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. CEO, Head of Agriculture & Executive Director Gerrit Marx was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
CNH Industrial N.V. to Report Q1, 2026 Results on Apr 30, 2026 CNH Industrial N.V. announced that they will report Q1, 2026 results at 12:30 PM, US Eastern Standard Time on Apr 30, 2026 Announcement • Mar 23
CNH Industrial N.V.(NYSE:CNH) dropped from FTSE All-World Index (USD) CNH Industrial N.V.(NYSE:CNH) dropped from FTSE All-World Index (USD) Buy Or Sell Opportunity • Feb 19
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to €11.06. The fair value is estimated to be €8.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 37%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Reported Earnings • Feb 18
Full year 2025 earnings released: EPS: US$0.41 (vs US$0.99 in FY 2024) Full year 2025 results: EPS: US$0.41 (down from US$0.99 in FY 2024). Revenue: US$18.1b (down 8.8% from FY 2024). Net income: US$510.0m (down 59% from FY 2024). Profit margin: 2.8% (down from 6.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €10.42, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Machinery industry in Italy. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.60 per share. Announcement • Jan 20
CNH Industrial N.V. to Report Q4, 2025 Results on Feb 17, 2026 CNH Industrial N.V. announced that they will report Q4, 2025 results on Feb 17, 2026 Announcement • Jan 02
CNH Industrial N.V. Announces Appointments of Carlo Materazzo as Chief Manufacturing Officer and Britton Worthen as Chief Legal and Compliance Officer, Effective January 1, 2026 CNH Industrial announced the appointments of Carlo Materazzo as Chief Manufacturing Officer and Britton Worthen as Chief Legal and Compliance Officer to its Global Leadership Team, effective January 1, 2026. Carlo Materazzo assumes the role of Chief Manufacturing Officer, responsible for global agriculture industrial operations across five regions and 15 countries. Mr. Materazzo brings over 20 years of international experience in manufacturing, operations, and logistics. Britton Worthen joins CNH as Chief Legal and Compliance Officer, bringing extensive experience in legal strategy, compliance, and corporate governance. Mr. Worthen will advise the Company’s governing bodies on key legal issues and risks. He will also serve as Board Secretary to the CNH Board of Directors. Announcement • Nov 09
CNH Introduces FLEETPRO Aftermarket Line-Up at Agritechnica 2025 CNH announced that it is introducing its FLEETPRO line-up of aftermarket services at Agritechnica 2025. The FLEET PRO line-up includes a portfolio of certified spare parts and consumables for agricultural equipment, mainly recommended for post-warr warranty and legacy agricultural machinery. This delivers customers with additional support by providing dependable performance and tailored dealer support at a competitive price point. It is available across Europe, the Middle East, and Africa (EMEA). An enhanced Precision Technology offering FLEETPRO's product portfolio will also include Precision Farming kits. These will initially be available in the EMEA region. In partnership with CHC Navigation, FLEETPRO will offer guidance kits with 10-inch and 12-inch displays, available with both hydraulic and assisted steering options. The kits are compatible with all brands and models, making precision tools accessible for mixed fleets. For advanced scalability, customers can rely on CNH's Raven portfolio, built for flexibility and durability in demanding conditions. Case IH, New Holland, and STEYR users continue to benefit from fully integrated guidance systems, connecting seamlessly to the FieldOps digital platform for optimized machine performance. CNH's FLEETPRO line of aftermarket parts will be available at all Case IH, New Holland and STEYR authorized dealerships across the EMEA region. Announcement • Oct 15
CNH Industrial N.V. to Report Q3, 2025 Results on Nov 07, 2025 CNH Industrial N.V. announced that they will report Q3, 2025 results on Nov 07, 2025 Announcement • Jul 17
CNH Industrial N.V. to Report Q2, 2025 Results on Aug 01, 2025 CNH Industrial N.V. announced that they will report Q2, 2025 results on Aug 01, 2025 Announcement • Jul 10
Barilla Group Announces Appointment of Oddone Incisa as Chief Financial Officer, Effective September 15, 2025 Barilla Group announced the appointment of Oddone Incisa as our new Chief Financial Officer, effective September 15, 2025. Oddone brings over 25 years of global leadership in finance and risk management, with executive roles, including CFO and CEO positions across Europe and the Americas. His track record includes leading major transformation initiatives and driving organic and inorganic growth. Most recently he served as group CFO of CNH Industrial NV since March 2020 through May 2025. Announcement • May 12
CNH Industrial N.V. Appoints Gerrit Marx as Executive Director, Effective May 12, 2025 CNH Industrial N.V. at its annual general meeting held on May 12, 2025, appointed Gerrit Marx as executive director. Announcement • Apr 15
CNH Industrial N.V. to Report Q1, 2025 Results on May 01, 2025 CNH Industrial N.V. announced that they will report Q1, 2025 results on May 01, 2025 Announcement • Mar 18
CNH INDUSTRIAL N V Appoints Cameron Batten as Chief Communications Officer, Effective March 31, 2025 CNH INDUSTRIAL N V announced the appointment of Cameron Batten as Chief Communications Officer effective March 31, 2025. Mr. Batten will join the Companys Global Leadership Team (GLT), which is empowered to carry out the fast and effective delivery of CNHs strategic priorities for profitable long-term growth. Cameron Batten has over 25 years of experience in communications across media and institutional/government relations, brand marketing, corporate reputation, employee engagement and social impact with top-tier consumer brands. Ahead of joining CNH, he served as Chief Communications Officer at Volkswagen Group of America. His past roles include Vice President of Brand Communications at Samsung Electronics America; Vice President of Card Communications at Capital One; Global Head of Workforce Communications at Johnson and Vice President of Communications at American Express. Announcement • Mar 01
CNH Announces Executive Changes CNH announced a key leadership transition in its Human Resources function. Effective May 1, 2025, Francesco Tutino will assume the role of Chief Human Resources Officer (CHRO), joining the Company’s Global Leadership Team (GLT). His future base will be at the Company’s North American headquarters in Oak Brook, Illinois, USA. Mr. Tutino will succeed current CHRO Kelly Manley who after 20 years of dedicated service to CNH, and previously with sister company Stellantis, will transition out of the organization. Mr. Tutino has extensive experience across multinationals, leading HR organizations to support strategic business targets. He has notably served with CNH and subsequently with its sister company Iveco Group for over 10 years. He was most recently Group Chief HR & Organization Officer at Prysmian, a global cable solutions provider. Prior to this he was Chief Human Resources and IT Officer at Iveco Group. He began his career in HR with Thales Alenia Space, followed by roles of increasing responsibility with DENSO Thermal Systems from 2006 – 2012. Announcement • Jan 24
CNH Industrial N.V. to Report Q4, 2024 Results on Feb 04, 2025 CNH Industrial N.V. announced that they will report Q4, 2024 results on Feb 04, 2025 Announcement • Jan 16
CNH Industrial N.V. Appoints Luis Abreu as Chief Information Officer CNH announced the appointment of Luis Abreu as Chief Information Officer (CIO). In this role, he joins the Companys Global Leadership Team (GLT), which is empowered to carry out the fast and effective delivery of CNHs strategic priorities for profitable long-term growth globally. Mr. Abreu brings over two decades of experience with CNH and its predecessor companies. He began his career in IT in 2005 at truck and bus manufacturer Iveco (now part of Iveco Group), subsequently assuming roles of increasing importance, and most recently serving as Acting CIO. Luis's extensive global and regional expertise with our IT organization ideally positions him for this role. Since August 2024, he has demonstrated his leadership as Acting CIO, and we are confident in his ability to further advance our IT organization. By leveraging cutting-edge technologies, he will continue to enhance our capabilities, benefiting both our internal operations and our customers, said Gerrit Marx, Chief Executive Officer at CNH. Announcement • Oct 14
CNH Industrial N.V. to Report Q3, 2024 Results on Nov 08, 2024 CNH Industrial N.V. announced that they will report Q3, 2024 results on Nov 08, 2024 Announcement • Jul 11
CNH Industrial N.V. to Report Q2, 2024 Results on Jul 31, 2024 CNH Industrial N.V. announced that they will report Q2, 2024 results at 7:00 AM, US Eastern Standard Time on Jul 31, 2024 Announcement • May 31
Derek Neilson to Step Down as Head of the Agricultural Segment of CNH Industrial N.V CNH Industrial N.V. announces that it has accepted Derek Neilson's request to leave the Company later this year to pursue a new entrepreneurial project outside of the sector, after 25 years of dedicated service. During his career with CNH Derek has held a range of leadership positions, making major contributions to manufacturing, the former commercial vehicles division, the EMEA region, also serving for a time as interim CEO. For the past six years he has overseen the transformation of CNH’s agricultural business and its accompanying record performance. Derek has developed a strong team that will continue to place the needs of our agricultural customers at the center of our business as we continue the development of the next generation of digitally enabled products. Announcement • Apr 20
CNH Industrial N.V. to Report Q1, 2024 Results on May 02, 2024 CNH Industrial N.V. announced that they will report Q1, 2024 results on May 02, 2024 Announcement • Mar 20
CNH Industrial N.V., Annual General Meeting, May 03, 2024 CNH Industrial N.V., Annual General Meeting, May 03, 2024, at 15:00 Central European Standard Time. Location: Freshfields Bruckhaus Deringer LLP, Amsterdam Netherlands Agenda: To consider dividend; to consider re-appointment of each of the executive directors and re-appointment of each of the non-executive directors as described in the proxy statement; to consider compensation; to consider 2023 Annual Report; to consider re-appointment of the independent auditor; and to consider other matters. Announcement • Feb 15
CNH Industrial N.V. (NYSE:CNHI) announces an Equity Buyback for $500 million worth of its shares. CNH Industrial N.V. (NYSE:CNHI) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. Announcement • Jan 27
CNH Industrial N.V. to Report Q4, 2023 Results on Feb 14, 2024 CNH Industrial N.V. announced that they will report Q4, 2023 results at 7:00 AM, US Eastern Standard Time on Feb 14, 2024 Announcement • Jan 13
CNH Industrial N.V. Announces Executive Changes On January 9, 2024, CNH Industrial N.V. announced that it is reducing the size of and realigning its senior leadership team. As part of this realignment, the Company announced that Kevin Barr resigned as Chief Human Resources Officer effective as of January 9, 2024, but will remain with the Company as a senior leadership advisor through December 31, 2024 (Term Date"), unless terminated earlier. Mr. Barr will report directly to the Company's Chief Executive Officer. Mr. Barr and the Company have also agreed to amend Mr. Barr's employment agreement, effective as of January 9, 2024, to provide, among other things, that Mr. Barr's eligibility for any bonuses for fiscal 2024 will be at the discretion of the Company's Chief Executive Officer. Upon Mr. Barr's resignation, Ms. Kelly Manley has been appointed as the Company's Chief Human Resources Officer effective January 9, 2024. Ms. Manley, age 49, first joined CNH in 2021 as Chief Diversity & Inclusion, Sustainability and Transformation Officer becoming a member of the Company's Global Leadership Team. has more than 20 years of experience in people development, organizational design and employee engagement across a range of industries including manufacturing, non-profit, technology and public relations, much of which she gained through roles of increasing responsibility with Fiat Chrysler Automobiles (FCA), now Stellantis. She joined CNH Industrial in 2021 as Chief Diversity & Inclusion, Sustainability and Transformation Officer. Prior to joining CNH Industrial, Ms. Manley served as Vice President of Global Talent, Leadership & Learning, where she drove the talent strategy across the then Fiat Chrysler Automobiles (FCA) group and led a number of organizational transformations which included acting as the Talent Executive Lead for the most recent merger of FCA and PSA, forming Stellantis. Her past global HR leadership roles within the former FCA organization include Diversity & Inclusion, Talent Management, Talent Acquisition, HR Systems and Shared Services, and lead HR Business Partner roles in the Industrial, Commercial and Corporate Staffs areas. No stranger to corporate transformation, Ms. Manley joined the then DaimlerChrysler in 2005 and led the international human resources responsibilities in the separation of the two companies. Ms. Manley holds a master's degree in Industrial-Organizational Psychology from the University of Detroit Mercy and a bachelor's degree in Psychology from William Tyndale College, both in the United States. She has received accreditations from Thunderbird and the Gestalt Institute's International Organization Systems Program. Ms. Manley is a certified executive coach through the Institute for Professional Excellence in Coaching (iPEC). Announcement • Jan 02
CNH Industrial Completes Voluntary Delisting of Shares from Euronext Milan and Begins Single Listing on NYSE CNH Industrial N.V. announced that it has completed the voluntary delisting of its shares from Euronext Milan. Shares of CNH are now solely listed on the New York Stock Exchange (NYSE). “The single listing on the NYSE is the latest step in our ongoing simplification journey, which accelerated in 2022 as we became an agriculture and construction equipment pureplay,” said Scott W. Wine, Chief Executive Officer. “Considering this delisting and other initiatives enacted over the past two years, CNH is fundamentally a different company: more customer focused, more efficient, and more profitable. With this renewed foundation, we are enthusiastic about our future.” As announced on February 2, 2023, CNH’s decision to delist was taken following a careful review of the relative trading volumes on the two exchanges as well as the costs and administrative resources required to maintain the listing on Euronext Milan. The majority of CNH stock trading has progressively shifted to the NYSE, indicating that the Company’s business profile and investor base fit better with a single US listing. Concentrating trading in one market should allow for increased liquidity and investor focus, while further simplifying the company profile and compliance requirements. Announcement • Dec 26
CNH Industrial N.V. announced that it has received $5.54 million in funding On December 26, 2023, CNH Industrial N.V. closed the transaction. The transaction included participation from a single investor. Announcement • Dec 18
CNH Industrial N.V.(BIT:CNHI) dropped from FTSE All-World Index (USD) CNH Industrial N.V.(BIT:CNHI) dropped from FTSE All-World Index (USD) Announcement • Nov 07
CNH Industrial Announces Voluntary Delisting from Euronext Milan CNH Industrial N.V. announced that its Board of Directors has approved an application to delist its ordinary shares from Euronext Milan. Such application will be filed November 7, 2023. As announced on February 2, 2023, the decision to delist from Euronext Milan and concentrate its listing on NYSE was taken following a careful review of the relative trading volumes on the two exchanges. Since the spin-off in January 2022 of CNH’s On-Highway activities and the creation of Iveco Group, the majority of CNH stock trading has progressively shifted to the New York Stock Exchange (NYSE), revealing that the Company’s business profile and investor base fit better with a single US listing. Concentrating trading in one market should allow for increased liquidity and investor focus, while further simplifying the company profile and compliance requirements. Announcement • Jun 02
Cnh Industrial Announces Appointment of Friedrich Eichler as Chief Technology Officer CNH Industrial N.V. announced the appointment of Friedrich Eichler as Chief Technology Officer (CTO). He will preside over R&D community with direct responsibility for Technology, Innovation, Quality, Design and their related divisions Friedrich will provide functional governance for the Agriculture and Construction segments’ Product Development – coordinating closely with Segment Presidents Derek Neilson (Agriculture) and Stefano Pampalone (Construction). He will also work hand-in-hand with Marc Kermisch, Chief Digital & Information Officer, to seamlessly integrate precision, digital and autonomy solutions across equipment portfolios. Friedrich Eichler has more than 30 years of experience in automotive engineering with some of the world’s biggest carmakers including Volkswagen Group and Mercedes-Benz Group. He has grown to roles of increasing assumes his CTO role in CNH Industrial from Marc Kermisch who previously served on an ad interim basis. Announcement • May 06
CNH Industrial N.V. Provides Earnings Guidance for the Year 2023 CNH Industrial N.V. provided earnings guidance for the year 2023. Net sales guidance for Fiscal Year 2023 updated to an increase of 8-11% vs 2022 on strong North America row crop demand, continued pricing strength and a solid order backlog. Announcement • Jan 20
CNH Industrial N.V. to Report Q4, 2022 Results on Feb 02, 2023 CNH Industrial N.V. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 02, 2023 Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Karen Linehan was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.41 (up from US$0.24 in 3Q 2021). Revenue: US$5.88b (down 26% from 3Q 2021). Net income: US$556.0m (up 72% from 3Q 2021). Profit margin: 9.5% (up from 4.1% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 49%. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Machinery industry in Italy are expected to grow by 9.0%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 11
Independent Non-Executive Director recently bought €147k worth of stock On the 4th of August, Karen Linehan bought around 12k shares on-market at roughly €12.32 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €4.5m more in shares than they have sold in the last 12 months. Buying Opportunity • Aug 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.3%. The fair value is estimated to be €15.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 9.8%. For the next 3 years, revenue is forecast to decline by 0.7% per annum. Earnings is forecast to grow by 3.5% per annum over the same time period. Reported Earnings • Jul 31
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.37 (down from US$0.51 in 2Q 2021). Revenue: US$5.17b (down 42% from 2Q 2021). Net income: US$505.0m (down 27% from 2Q 2021). Profit margin: 9.8% (up from 7.7% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 54%. Over the next year, revenue is expected to shrink by 32% compared to a 18% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Recent Insider Transactions • May 06
Executive Chairperson recently sold €254k worth of stock On the 2nd of May, Suzanne Heywood sold around 19k shares on-market at roughly €13.68 per share. This was the largest sale by an insider in the last 3 months. This was Suzanne's only on-market trade for the last 12 months. Reported Earnings • May 03
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: US$0.25 (down from US$0.30 in 1Q 2021). Revenue: US$4.65b (down 38% from 1Q 2021). Net income: US$333.0m (down 18% from 1Q 2021). Profit margin: 7.2% (up from 5.5% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Over the next year, revenue is expected to shrink by 37% compared to a 43% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Karen Linehan was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 12
Upcoming dividend of €0.28 per share Eligible shareholders must have bought the stock before 19 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Italian dividend payers (4.6%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 10
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$1.27 (up from US$0.36 loss in FY 2020). Revenue: US$33.4b (up 28% from FY 2020). Net income: US$1.72b (up US$2.22b from FY 2020). Profit margin: 5.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Over the next year, revenue is expected to shrink by 33% compared to a 15% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €14.30, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Machinery industry in Italy. Total returns to shareholders of 99% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.44 per share. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.24 (vs US$0.70 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$7.97b (up 23% from 3Q 2020). Net income: US$323.0m (up US$1.27b from 3Q 2020). Profit margin: 4.1% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Executive Departure • Oct 12
Head of Bus Business Unit Sylvain Blaise has left the company On the 1st of October, Sylvain Blaise's tenure as Head of Bus Business Unit ended after 7.3 years in the role. We don't have any record of a personal shareholding under Sylvain's name. Sylvain is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS US$0.51 (vs US$0.26 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$8.91b (up 60% from 2Q 2020). Net income: US$690.0m (up 97% from 2Q 2020). Profit margin: 7.7% (up from 6.3% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • May 06
First quarter 2021 earnings released: EPS US$0.30 (vs US$0.048 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$7.47b (up 37% from 1Q 2020). Net income: US$408.0m (up US$473.0m from 1Q 2020). Profit margin: 5.5% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 12
Upcoming dividend of €0.11 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 21 April 2021. Trailing yield: 0.8%. Lower than top quartile of Italian dividend payers (4.1%). Lower than average of industry peers (1.0%). Reported Earnings • Mar 06
Full year 2020 earnings released: US$0.36 loss per share (vs US$1.05 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$26.0b (down 7.3% from FY 2019). Net loss: US$493.0m (down 135% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 20
New 90-day high: €12.27 The company is up 38% from its price of €8.89 on 20 November 2020. The Italian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.67 per share. Is New 90 Day High Low • Feb 03
New 90-day high: €11.57 The company is up 50% from its price of €7.72 on 05 November 2020. The Italian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.43 per share. 
