Latest news with #567
TimesLIVE
6 days ago
- Automotive
- TimesLIVE
Xiaomi CEO expects EV business to turn profitable in second half of 2025
China's Xiaomi founder and CEO Lei Jun said on Tuesday he expected the company's car business to turn profitable in the second half of the year, according to a company spokesperson. Xiaomi's loss from its smart electric vehicles, AI and other new projects amounted to 0.5bn yuan (R1,242,018,515) in the quarter ended March 31, with its EV business revenue reaching 18.1bn yuan (R44,955,567,300) over the same period. Xiaomi will start selling its second EV model YU7 in July.
Yahoo
02-05-2025
- Business
- Yahoo
CNH Industrial NV (CNH) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Consolidated Revenue: $3.8 billion, down 21% year-over-year. Industrial Adjusted EBIT: $101 million, down 73% compared to last year. EPS: $0.10 for the quarter. Industrial Net Sales: Just below $3.2 billion, down 23% year-over-year. Free Cash Flow for Industrial Activities: $567 million outflow. Agriculture Net Sales: Decreased 23% in the quarter. Gross Margin: 20%, down 380 basis points year-over-year. Adjusted EBIT Margin for Agriculture: 5.4%. Construction Net Sales: $591 million, down 22% year-over-year. Gross Margin for Construction: 14.9%, down 250 basis points year-over-year. Adjusted EBIT Margin for Construction: 2.4%. Financial Services Net Income: $90 million. Retail Originations: $2.4 billion. Managed Portfolio: $28 billion. Dividend Proposal: $0.25 per share, over $300 million. Production Hours: Down 26% compared to Q1 2024. Warning! GuruFocus has detected 10 Warning Signs with CNH. Release Date: May 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. CNH Industrial NV (NYSE:CNH) successfully reduced dealer inventories by $100 million in Q1, aligning with their goal of a $1 billion reduction by year-end. The company launched a new automated spraying solution using vision technology from Augmenta, enhancing their product offerings without additional subscription costs for farmers. CNH Industrial NV (NYSE:CNH) maintained a favorable price-cost relationship despite lower pricing in agriculture, with expectations for better pricing comparisons in the second half of the year. The financial services segment performed well, providing competitive financing options despite market slowdowns and higher risk provisioning needs. CNH Industrial NV (NYSE:CNH) is strategically positioned to benefit from potential shifts in global commodity demand, particularly in regions like Brazil. Consolidated revenues for the first quarter were down 21% to $3.8 billion, reflecting a challenging market environment. Industrial adjusted EBIT decreased by 73% compared to the previous year, indicating significant profitability challenges. The company faced a 26% reduction in production hours compared to Q1 2024, with agriculture and construction segments both experiencing declines. Higher expected risk costs and increased taxes negatively impacted the financial services segment's net income. The ongoing tariff discussions and global trade uncertainties pose significant risks to CNH Industrial NV (NYSE:CNH)'s operations and financial performance. Q: Can you quantify the EPS impact from tariffs in your guidance? A: Oddone Incisa, CFO, stated that the change in guidance is primarily due to tariff scenarios. The guidance range has been widened to account for the uncertainty, and the midpoint shift reflects the potential tariff impact. Q: How are you managing production costs, particularly regarding quality and manufacturing expenses? A: Oddone Incisa, CFO, mentioned that quality costs were still a negative factor in the quarter but are expected to improve as the year progresses. Gerrit Marx, CEO, added that production costs are lower despite quality expenses, and improvements are expected in the second half of the year. Q: Can you elaborate on the price adjustments and supplier cost-sharing efforts? A: Gerrit Marx, CEO, explained that moderate price adjustments have been implemented, effective May 1, to balance cost movements. The company is actively working with suppliers to share tariff-related costs and is considering relocating production facilities to more favorable tariff regions. Q: What is the outlook for agricultural segment margins throughout the year? A: Oddone Incisa, CFO, indicated that Q1 was the low point for ag margins, with expectations for improvement in the second half, returning to double-digit profitability. Q: How are you handling price adjustments for imported products, and are there any products that may not be viable due to tariffs? A: Gerrit Marx, CEO, stated that all imported products remain viable. The company is not applying a flat tariff rate but is instead analyzing the bill of materials and supplier sources to determine price increases. Inventory levels are being carefully managed to avoid stocking up on higher-priced units too early. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-04-2025
- Automotive
- Yahoo
I-95 ‘is a horror.' Should Florida let drivers have higher speed limits on interstates?
Legislative proposals to increase speed limits on Florida interstate and other highways are cruising to passage. If the speed limits are increased, even by the proposed 5 mph, research shows more accidents could follow. So far, the proposal hasn't hit any speed bumps in the Florida House and Senate, where it's been approved with Republican and Democratic support by five of the six committees where the idea has been considered. It's one of multiple driving related ideas introduced in the annual legislative session in Tallahassee. With just a few weeks left until the scheduled May 2 session end, it has advanced farther than several others, and is among those most likely to get to the governor's desk. The speed limit legislation (Senate Bill 462 and House Bill 567) would increase the maximum speed on interstates and Florida's Turnpike from 70 mph to 75 mph. The bills also would require the Department of Transportation to increase the maximum speed on four-lane divided highways in rural areas from 65 mph to 70 mph. Other roads with 60 mph speed limits could be raised to 65 mph where deemed 'safe and advisable.' Higher speed limits are contained in omnibus transportation legislation containing what the House sponsor, state Rep. Fiona McFarland, a Sarasota Republican, described as a potpourri of ideas, including the way some Department of Transportation land purchases are handled, quality metrics for proposed projects, and allowing pregnant women to park in handicapped spots. McFarland told the Transportation & Economic Development Budget Subcommittee on Thursday that the array of ideas would improve what she regards as an already stellar system. 'I want excellence in how we travel around our state. You know, those of you who have crossed state lines recently, and I feel this way whenever I go to another state, I feel like I'm driving in a third-world country and I can't wait to get back to Florida roads. We have a fantastic transportation system,' she said. Not everyone thinks the speed limit provision is a good idea. Opponents include AAA – The Auto Club Group. And Howard Hatoff, a Boca Raton retiree, said the Legislature should hit the brakes on the idea. 'I think the speed limits we have now are fast enough with the kind of drivers we have. I would be concerned about raising speed limits,' Hatoff said. 'Why would I be concerned? Because the problems we have with drivers now with the current speed limit I think would be increased if people who drive stupidly are able to go faster.' People who already exceed the speed limit are likely to exceed a new, higher limit, he said. Hatoff, who's lived in New York, Ohio, Oklahoma, Pennsylvania and Texas, said driving in Florida is already challenging — especially on the main East Coast interstate, '95 is a horror, in certain parts of it.' Congressman Randy Fine says it's 'troubling' that two Republicans DeSantis recently criticized are both Jewish Awarding state arts grants in Florida: Republican lawmakers make changes to DeSantis proposal DeSantis attacks Broward's newest Republican lawmaker, Hillary Cassel, as 'very, very liberal' Canadian billboards warn Floridians they'll pay for Trump's tariffs DeSantis says he tried to install Randy Fine at FAU because state lawmakers wanted to get rid of him In 2014, then-Gov. Rick Scott vetoed similar speed-limit legislation, pointing to concerns raised by law-enforcement officers. 'Although the bill does not mandate higher speed limits, allowing for the possibility of faster driving on Florida's roads and highways could ultimately and unacceptably increase the risk of serious accidents for Florida citizens and visitors,' Scott, now the state's senior U.S. senator, wrote in his veto message. Scott said law enforcement officers had warned him about 'the possible serious negative consequences should this bill become law. While the evidence suggests that increased driving speeds are not the sole cause of traffic accidents, they clearly contribute to the increased severity of vehicle crash outcomes in the form of needless injuries and deaths.' A 2023 study from the AAA Foundation for Traffic Safety found that 'that raising posted speed limits may do little to save time and increase traffic flow but could lead to more crashes, injuries, and deaths.' Raising the posted speed limit was associated with increased crash frequencies on two of the three studied interstates. 'The benefits are overrated, and the risks are understated. Increasing speed limits does not always yield the positive results envisioned by traffic planners,' Jennifer Ryan, director of state relations for AAA, said in a 2023 release. A 2024 study from the AAA Foundation for Traffic Safety found that raising speed limits on highways 'could lead to more crashes on nearby roads. … This 'spillover effect' creates unintended safety hazards for local communities that might not be involved in the decision-making process to raise the posted speed limit on a nearby highway.' Several other ideas that would affect motorists have been considered, but mostly haven't advanced as far in the legislative process, which could make their prospects shakier with limited time left in the annual session. A proposal that would put more restrictions on the use of cellphones while driving passed the Senate on Wednesday. Senate Bill 1318 would rename the Florida Ban on Texting While Driving Law to the Florida Hands-Free Driving Law and bar the handheld use of wireless devices while behind the wheel. It would apply to any actions that involve holding cellphones, including using social media, looking at maps and watching videos. State Sen. Erin Grall, a Vero Beach Republican, said she sponsored the proposal because distracted driving in Florida is a major problem. 'It takes us digging in and saying we are going to change our behavior, because we know this is as bad, if not worse, than drunk driving,' she said during a committee hearing. AAA supported the legislation, which passed the Senate 29-7. Most Broward and Palm Beach county senators — Lori Berman, Mack Bernard, Gayle Harrell, Jason Pizzo and Tina Polsky — voted 'yes.' State Sens. Rosalind Osgood and Barbara Sharief voted 'no.' The House version of the bill has not been considered by any committees. The idea of preventing drivers from spending too much time in left lanes of Florida highways resurfaced, but stalled. Only one of five committees charged with considering the idea have acted. Senate Bill 636 and House Bill 545 would ban left-lane cruising on highways with at least two lanes and speed limits of at least 65 mph. The proposals would provide exemptions for drivers passing other motorists, preparing to exit highways, turning from left lanes and being directed into the lanes by law-enforcement officers or traffic-control devices. Also, they would provide an exemption for motorists because of environmental or traffic conditions. Gov. Ron DeSantis vetoed a similar bill last year. He wrote that it was 'too broad' and that it could result in motorists 'being pulled over, ticketed, and fined for driving in the furthest left lane even if they are not impeding the flow of traffic.' And, he said, it could 'potentially increase congestion in Florida's urban areas as drivers may decide to not utilize the furthest left-hand lane at all for fear of being ticketed.' Florida's rear-only license plate law has vexed people who move from states that require plates on the front and rear of vehicles. Senate Bill 92, which has only passed one committee, would add a front-plate requirement. A legislative staff analysis said most states require front and rear plates. The analysis shows a major obstacle: The one-time cost of producing front license plates for all the vehicles registered in Florida is estimated at $130 million. After, the cost would hit $13 million a year. And such a law would create headaches for many car owners, since vehicles sold in the state typically don't come equipped with holes allowing people to fasten front plates. This report includes information from the News Service of Florida. Anthony Man can be reached at aman@ and can be found @browardpolitics on Bluesky, Threads, Facebook and Mastodon.
