CNH Industrial (NYSE: CNH ) recently reported earnings, and we all know the report was not good. I have been a former shareholder of the company but sold out of it as market conditions deteriorated and the company underwentI focus on long term growth and dividend growth investing. I follow both the US and the European stock markets, looking for undervalued stock and/or for high quality dividend growing companies that provide me with cash to reinvest. Over time, I have come to realize that profitability is a ...

How our electric mini excavators are helping Denmark reach its carbon emissions targets: ‘A Sustainable Year’ story from CNH Basildon, November 11, 2024 In the eighth installment of our ‘A Sustainable Year’ series we look at how CNH brand, New Holland Construction, is playing a role in helping Denmark move closer to its carbon emissions targets. We learn more from Claus Egede Cornelius, program director at Roskilde Technical School, Vilvorde. He speaks about how electric mini excavators are being used to gi ...

Financial Data and Key Metrics - Consolidated revenues were down 22% YoY, and industrial net sales were down 25% YoY [22] - Industrial gross margin reduced by 220 basis points YoY, and adjusted EBIT margin was 8.4%, down 340 basis points YoY [23] - EPS was $0.24 compared to $0.40 last year [23] - Free cash flow for industrial activities was an outflow of $180 million [30] - Adjusted net income in Q3 was $304 million, with an adjusted diluted EPS of $0.24, down $0.16 from Q3 2023 [29] Business Line Performance Agriculture - Agricultural net sales decreased 24% YoY, with lower volumes across all regions [31] - Production hours in agriculture equipment plants were down 42% YoY for row-crop products and 26% YTD for the entire product range [31] - Gross margin was down 290 basis points at 22.7% [32] - Adjusted EBIT margin ended at 10.2%, with a decremental EBIT margin of 28% [34] Construction - Construction net sales were $687 million, down 28% YoY [35] - Gross margin grew by 70 basis points to 16.6% [35] - Adjusted EBIT margin was down slightly YoY at 5.8%, with a decremental EBIT margin of 8% [36] Financial Services - Net income in Q3 was $78 million, an $8 million decrease compared to 2023 [37] - Retail originations in Q3 were $2.8 billion, down $0.2 billion YoY [38] - Delinquencies on book were down sequentially to 2.2% but remain elevated due to economic factors in South America [38] Market Performance - Sales were down in all regions across both agriculture and construction [22] - Ag demand in Brazil and Europe continues to be weak, and North America row crop demand has begun to soften [24] - Dealers' new inventory is estimated to be $1 billion to $1.5 billion above target levels [25] Company Strategy and Industry Competition - The company is focusing on cost reduction, with $85 million in incremental cost savings and $45 million in SG&A savings in Q3 [17] - Strategic sourcing efforts are underway, with a second wave of supplier contracts worth around $2 billion in purchases [18][19] - The company is evaluating options to simplify its manufacturing footprint and streamline operations [12][60] - R&D investments are being maintained, with a focus on in-house technology and product launches, including a new lineup at Agritechnica 2025 [14][58] Management Commentary on Operating Environment and Future Outlook - The macro environment remains challenging, with depressed commodity prices and muted farm income [8][9] - The company expects to underproduce retail demand through the first half of 2025, aiming to align production with retail demand by the second half [53] - Full-year 2024 guidance includes a 22% to 23% decrease in net sales and an industrial EBIT margin of 8% to 9% [51] - The company anticipates 2025 to be the bottom of the cycle, with potential market recovery in late 2025 or later [55][56] Other Important Information - The company has spent around $100 million in 2024 to address field quality issues [12] - Share buybacks have reduced the share count by about 7% since January 2023 [46] - The company reaffirms its policy to return 25% to 35% of adjusted net income to shareholders through dividends and share buybacks [46] Q&A Session Summary Question: Underproduction Plan for 2025 - The company plans to underproduce retail demand in agriculture by 30% to 40% in Q4 2024 and continue underproduction in Q1 and Q2 2025 [63][64] - Construction will also underproduce retail demand in the first half of 2025 [65] Question: Pricing and Inventory Management - Pricing pressure is seen in Europe and Latin America, but the company expects positive pricing for the full year [72] - Inventory levels are expected to remain above target, with efforts to reduce dealer inventories through underproduction [69][99] Question: R&D and Product Launches - R&D spending will remain stable, with a focus on in-house technology and product launches, including new combines and tractors [102][109] - The company has gained market share in key segments despite quality challenges [112][113] Question: Financial Services and Leasing - The company does not expect significant losses from operating leases, with resale values holding up [115][116] Question: Manufacturing Footprint and Cost Savings - The closure of the Burlington plant is part of a broader effort to streamline operations and reduce costs [60][124] - Cost savings from manufacturing efficiencies and strategic sourcing are expected to continue into 2025 [40][41]

CNH ew Gro Innovation Sustainability Productivity Q3 2024 RESULTS REVIEW November 8, 2024 SAFE HARBOR STATEMENT AND DISCLOSURES All statements other than statements of historical fact contained in this presentation including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and obje ...

| --- | --- | --- | --- | |-----------------------------------------------|--------------------|---------|-----------| | | NON-GAAP \nQ3 2024 | Q3 2023 | Change | | Adjusted EBIT of Industrial Activities | 336 | 627 | (46)% | | Adjusted EBIT margin of Industrial Activities | 8.4% | 11.8% | (340) bps | | Adjusted net income | 304 | 540 | (44)% | | Adjusted diluted EPS $ | 0.24 | 0.40 | (0.16) | | Free cash flow of Industrial Activities | (180) | (127) | (53) | (3) (7) PRESS RE Exhibit 99.1 CNH Industrial N.V ...

CNH Industrial (CNH) reported $4.65 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 22.3%. EPS of $0.24 for the same period compares to $0.42 a year ago.The reported revenue represents a surprise of -2.61% over the Zacks Consensus Estimate of $4.78 billion. With the consensus EPS estimate being $0.28, the EPS surprise was -14.29%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

CNH Industrial (CNH) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this truck, tractor and bus maker would post earnings of $0.38 per share when it actually produced earnings of $0.38, delivering no surprise.Over the last four quarters, t ...

Third quarter consolidated revenue declined 22% on lower industry demand Third quarter diluted EPS at $0.24 Results reflect continued execution of cost savings initiatives partially offsetting the market headwinds Full year 2024 guidance lowered to reflect continued weak end markets and elevated channel inventory levels Basildon, UK - November 7, 2024 - CNH Industrial N.V. (NYSE: CNH) today reported results for the three months ended September 30, 2024, with net income of $310 million and diluted earnings p ...

CNH brands Case IH and STEYR win EIMA 2025 Tractor of the Year awards Basildon, November 6, 2024 Tractors from our iconic agriculture brands Case IH and STEYR have been honored with 2025 EIMA Tractor of the Year awards. This contest is a prestigious fixture for exhibitors at the International Exhibition of Agricultural and Gardening Machinery (EIMA) held in Bologna, Italy. The jury is formed of a panel of farm machinery journalists from across Europe. “It’s a great honor for our Case IH and STEYR brands to ...

Wall Street analysts forecast that CNH Industrial (CNH) will report quarterly earnings of $0.28 per share in its upcoming release, pointing to a year-over-year decline of 33.3%. It is anticipated that revenues will amount to $4.78 billion, exhibiting a decline of 20.2% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 4.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial ...