Financial Performance - Fourth quarter consolidated revenues decreased by 28% to $4.88 billion, and full year consolidated revenues declined by 20% to $19.84 billion[1][3][16] - Fourth quarter net income was $176 million, a 70% decrease compared to $583 million in Q4 2023; full year net income was $1,259 million, down 45% from $2,287 million in 2023[1][3][16] - Full year diluted EPS was $0.99, down from $1.69 in 2023; adjusted diluted EPS was $1.05 compared to $1.63 in the previous year[1][3][16] - The company reported a net income of $176 million for Q4 2024, compared to $583 million in Q4 2023, representing a decrease of 69.8%[33] - Net income for the year ended December 31, 2024, was $1,259 million, a decrease of 44.8% compared to $2,287 million in 2023[42] - Adjusted net income for the year was $1,339 million, compared to $2,217 million in the previous year, reflecting a decline of approximately 39.5%[55] - The adjusted diluted EPS for the year was $1.05, down from $1.63 in 2023, representing a decrease of about 35.4%[55] Segment Performance - Agriculture segment net sales fell by 31% to $3.41 billion in Q4 2024, with adjusted EBIT decreasing to $244 million from $635 million in Q4 2023[6][7][16] - Construction segment net sales decreased by 33% to $718 million in Q4 2024, with adjusted EBIT down to $18 million from $62 million in Q4 2023[8][9][16] - Adjusted EBIT for Industrial Activities in Q4 2024 was $194 million, a 71% decrease from $662 million in Q4 2023, with an adjusted EBIT margin of 4.7%[3][4][16] - The Agriculture segment's adjusted EBIT for the year ended December 31, 2024, was $1,470 million, down from $2,636 million in 2023[50] - The Construction segment's adjusted EBIT for the year ended December 31, 2024, was $169 million, a decrease from $238 million in 2023[50] Revenue and Sales Forecast - The company forecasts a decline in global industry retail sales for both agriculture and construction equipment markets in 2025, with net sales expected to be lower than in 2024[17][18][19] - Agriculture segment net sales are projected to decrease between 13% and 18% year-over-year in 2025, while construction segment net sales are expected to decline between 5% and 10%[19] Cash Flow and Assets - Cash flows from operating activities increased to $1,968 million in 2024, compared to $907 million in 2023, reflecting a significant improvement[37] - Cash flows from operating activities for the year ended December 31, 2024, were $1,968 million, compared to $907 million in 2023, indicating a significant increase[53] - Free cash flow of Industrial Activities for the year ended December 31, 2024, was $1,216 million, a decrease from $1,630 million in 2023[53] - CNH's total assets decreased to $42,933 million as of December 31, 2024, from $46,267 million in 2023, a reduction of 7.9%[35] - Cash and cash equivalents decreased to $3,191 million in 2024 from $4,322 million in 2023, a decline of 26.1%[35] Liabilities and Debt - The company's total liabilities also decreased to $35,165 million in 2024, down from $38,117 million in 2023, a decline of 7.7%[35] - Total debt as of December 31, 2024, was $26,944 million, a slight decrease from $27,472 million in 2023[51] - The company reported a net increase in debt of $1,242 million for the year ended December 31, 2024, compared to a decrease of $3,788 million in 2023[48] Research and Development - Research and development expenses for Q4 2024 were $238 million, down from $275 million in Q4 2023, a decrease of 13.5%[33] - Research and development expenses for the year ended December 31, 2024, were $924 million, a decrease of 11.3% from $1,041 million in 2023[42] Restructuring and Adjustments - The company incurred restructuring expenses of $24 million in Q4 2024, compared to $59 million in Q4 2023, reflecting a reduction of 59.3%[33] - The company reported restructuring expenses of $118 million for the year, with adjustments impacting income before income tax totaling $97 million[55] - The company has revised prior periods' results due to an overstatement of equity in income of unconsolidated subsidiaries by $96 million in 2023 and $67 million in the first half of 2024[22] Foreign Exchange and Other Impacts - The company experienced a foreign exchange loss of $8 million in 2024, compared to a gain of $105 million in 2023[50]

Core Viewpoint - CNH Industrial's earnings are expected to reach a low point in 2025 after experiencing two years of declining equipment sales, with an upgrade in rating from Perform to Outperform and a price target set at $16 by Oppenheimer's analyst Kristen Owen [1][2]. Group 1: Earnings Outlook - The third-quarter earnings season has positively influenced investor sentiment, with incremental catalysts anticipated in 2025 that may support a reversion trade for CNH [2]. - Despite challenging equipment fundamentals in 2025, recent improvements in grain prices could serve as a tailwind for global farm income [3]. Group 2: Company-Specific Catalysts - Potential catalysts for CNH Industrial include incremental cost savings programs, an investor day in May, and possible monetization of construction assets [4]. - At the time of publication, CNH Industrial shares were down 0.3% to $13.12 [4].

CNH Industrial (CNH) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February ...

CNH Industrial (NYSE: CNH ) shares have dropped precipitously over the past two years, mirroring the commodity market and reflecting concerns over rising interest rates. The company's results are sure to be depressed in the near-term, but there are reasons toI manage a handful of portfolios, all of which have outperformed the S&P 500 index since inception in 2020. I like to evaluate businesses as a business - not a stock ticker - and invest when I judge the market to have significantly mispriced them. I hav ...

AE50 2025: Ten Ag innovations from CNH awarded by ASABE Basildon, January 9, 2024 Customer-inspired Ag Tech and Engineering solutions from CNH's Case IH and New Holland brands have won ten AE50 2025 awards. These awards honor the year's 50 most innovative products and systems engineered for the food and agricultural industries. Winners are determined by the American Society of Agricultural and Biological Engineers (ASABE). Our Winners Case IH The Axial-Flow (AF) 260 series combines bring together the lates ...

Following our last update, ' We Are Looking Ahead, Buy Confirmed ,' CNH Industrial's (NYSE: CNH ) stock price recovered by 11.95%. (Fig 1). After the Farm Progress expo in Iowa, we were pricing negative expectations on theBuy-side hedge professionals conducting fundamental, income oriented, long term analysis across sectors globally in developed markets. Please shoot us a message or leave a comment to discuss ideas.DISCLOSURE: All of our articles are a matter of opinion, informed as they might be, and must ...

CNH announces Global Leadership Team changes Basildon, December 16, 2024 CNH (NYSE:CNH) today announces leadership changes designed to capitalize on current market opportunities in its Agriculture business in the North America and Europe, Middle East and Africa (EMEA) regions. These developments will support the Company at this stage of the agricultural cycle, readying it for the upswing. Scott Harris will assume the role of President, North America, effective January 1, 2025. Markus Müller will join CNH a ...

CNH designs special edition CASE compact track loader inspired by Metallica frontman James Hetfield Basildon, December 16, 2024 A special edition compact track loader from CNH construction brand CASE Construction Equipment was on display at the YouTube Theater in Inglewood, California, USA at the Helping Hands charity concert. Held on December 13, this annual event is organized by the rock band Metallica's All Within My Hands charitable foundation. Following its debut, this custom-designed CASE TV450B comp ...

CNH Industrial (CNH) reported third-quarter 2024 adjusted earnings per share (EPS) of 24 cents, down from 42 cents in the prior-year quarter. The figure also missed the Zacks Consensus Estimate of 28 cents.In the third quarter, consolidated revenues declined nearly 22% from the year-ago level to $4.65 billion and missed the consensus mark of $4.77 billion. The company’s net sales from industrial activities came in at $3.99 billion, down 25% due to lower industry demand and dealer inventory management.Stay u ...

Greenlight Capital's David Einhorn said Wednesday he has taken a medium sized position in agricultural play CNH Industrial.Speaking at CNBC's Delivering Alpha conference in New York City, the hedge fund investor said the agricultural machinery company is an under-the-radar value play as the industry nears the end of a bearish cycle. "It's exactly the kind of situation that absolutely nobody cares about right now because it's cheap, and the news over the next period of time isn't going to be very good. Agric ...