Core Points - CNH will release its financial results for the First Quarter of 2025 on May 1, 2025, with a live webcast starting at 9:00 a.m. ET [1] - A replay of the financial results conference call will be available for 12 months on the corporate website [1] Company Overview - CNH Industrial (NYSE:CNH) is a global leader in equipment, technology, and services, focusing on innovation, sustainability, and productivity [3] - The company provides strategic direction, R&D capabilities, and investments to support its global and regional brands [3] - CNH's brands include Case IH and New Holland for agriculture, and CASE and New Holland Construction Equipment for construction products [3] - Regionally focused brands include STEYR for agricultural tractors, Raven for digital agriculture, Hemisphere for satellite-based positioning, Flexi-Coil for tillage systems, Miller for application equipment, and Eurocomach for mini and midi excavators [3] Company History and Workforce - CNH has a history of over two centuries as a pioneer in its sectors, continuously innovating to enhance customer efficiency and success [4] - The company employs over 35,000 individuals in a diverse and inclusive workplace, dedicated to empowering customers [4]

Core Viewpoint - CNH announces the transition of its Chief Financial Officer from Oddone Incisa to Jim Nickolas, effective May 6, 2025, with a focus on ensuring a seamless transition and continued financial leadership [1][3][4]. Group 1: Leadership Transition - Oddone Incisa will step down after a 28-year career with CNH and the former Fiat Group, having held various senior roles in Finance and Commercial Lending [3]. - Jim Nickolas, with over 30 years of experience in corporate finance and M&A, will take over as CFO, bringing expertise from his previous roles at Martin Marietta and Caterpillar [2][4]. Group 2: Company Overview - CNH Industrial is a global leader in equipment, technology, and services, focusing on innovation, sustainability, and productivity [4][5]. - The company operates under various brands, including Case IH, New Holland, and CASE, providing a wide range of agricultural and construction products [4][5]. Group 3: Future Plans - Jim Nickolas will present the financial portion of the Company's Strategic Business Plan at the Investor Day scheduled for May 8, 2025, indicating a forward-looking approach to growth [1][4].

Core Insights - CNH is utilizing advanced technologies such as simulators, the metaverse, and augmented reality to enhance training for its workforce, customers, and partners in Latin America [1][2] - The company employs cab simulators that replicate the actual machine cabs, allowing for virtual reality training experiences [2] - CNH collaborates with various institutes and universities to foster open innovation and improve product quality through technology [2][3] Company Overview - CNH Industrial is a leading global equipment, technology, and services company focused on innovation, sustainability, and productivity [3][4] - The company operates under several brands, including Case IH, New Holland, CASE, and others, providing a comprehensive range of agricultural and construction products [3] - With over 35,000 employees, CNH promotes a diverse and inclusive workplace aimed at empowering customers and driving efficiency [4]

Group 1 - CNH brands, including Case IH and New Holland, are leading in precision agriculture to address water scarcity through the Drops of the Future initiative in Uzbekistan [1][2] - The initiative aims to empower young professionals and enhance collaboration between private companies and organizations like OSCE to improve water use efficiency and agricultural production [2][3] - The project began with a workshop in September 2024, involving experts and industry leaders, and is focused on delivering tangible impacts in the region [3] Group 2 - CNH Industrial is a global leader in equipment, technology, and services, emphasizing innovation, sustainability, and productivity across its brands [3][4] - The company has a diverse portfolio, including brands like STEYR, Raven, Hemisphere, Flexi-Coil, Miller, and Eurocomach, which cater to various agricultural and construction needs [3][4] - With over 35,000 employees, CNH promotes a diverse and inclusive workplace aimed at empowering customers and fostering growth [4]

Core Insights - CNH's precision technology is aiding farmers in addressing water scarcity through the Drops of the Future initiative, in collaboration with xFarm in Uzbekistan [1][2] - The initiative aims to empower young professionals and enhance agricultural productivity while conserving water resources [2][3] - CNH Industrial focuses on innovation, sustainability, and productivity, providing a wide range of agricultural and construction equipment [3][4] Group 1: Initiative Overview - The Drops of the Future initiative was launched to combat water scarcity in Uzbekistan and Turkmenistan, emphasizing innovation and collaboration [2] - The initiative marks the first collaboration between OSCE and private companies to address water use and improve production efficiency [2] Group 2: Project Details - The initiative began with the Tashkent Youth Workshop in September 2024, involving experts and industry leaders [3] - The ongoing pilot project in Uzbekistan aims to demonstrate the effectiveness of precision technology in enhancing agricultural productivity [1][3] Group 3: Company Profile - CNH Industrial is a global leader in equipment, technology, and services, with a commitment to innovation and customer success [3][4] - The company employs over 35,000 individuals and focuses on creating a diverse and inclusive workplace [4]

Core Points - CNH Industrial N.V. announced the pricing of $500 million in 4.750% notes due 2028, with an issue price of 99.658% [1] - The offering is expected to close on March 21, 2025, subject to customary closing conditions [1] Use of Proceeds - The net proceeds from the offering will be added to CNH Industrial Capital LLC's general funds for working capital and other corporate purposes, including the purchase of receivables or assets [2] - Proceeds may also be used to repay CNH Industrial Capital LLC's indebtedness as it becomes due [2] Notes Details - The notes are senior unsecured obligations of CNH Industrial Capital LLC, paying interest semi-annually starting September 21, 2025, and maturing on March 21, 2028 [3] - The notes will be guaranteed by CNH Industrial Capital America LLC and New Holland Credit Company, LLC, both wholly owned subsidiaries of CNH Industrial Capital LLC [3] Underwriters - BNP Paribas Securities Corp., BofA Securities, Deutsche Bank Securities, and Goldman Sachs are acting as joint book-running managers for the offering [4] - Additional joint book-running managers include BBVA Securities, Intesa Sanpaolo IMI Securities, SMBC Nikko Securities, and UniCredit Capital Markets [4] Company Overview - CNH Industrial Capital LLC is a wholly owned subsidiary of CNH Industrial N.V., headquartered in Racine, Wisconsin [6] - The company primarily underwrites and manages financing products for customers and dealers of CNH Industrial North America, supporting the sale of agricultural and construction equipment [6]

Core Insights - CNH Industrial is enhancing productivity and sustainability through the AutoStore™ automation initiative at its Lebanon, Indiana parts depot, which operates nearly 24/7 to support a global dealer network [2][3]. Group 1: Automation and Productivity - The Lebanon depot, spanning 19 acres, manages a diverse inventory of spare parts for various models, with new parts added annually as new machines are launched [3]. - The implementation of new automation processes has led to zero downtime, increased productivity, and cost savings, while also contributing to sustainability efforts [3]. Group 2: Company Overview - CNH Industrial is a leading global equipment, technology, and services company, focusing on innovation, sustainability, and productivity [4]. - The company operates under several brands, including Case IH, New Holland, and CASE, providing a comprehensive range of agricultural and construction products [4]. - With a workforce of over 40,000 employees, CNH emphasizes a diverse and inclusive workplace aimed at empowering customers and fostering growth [5].

Leadership Transition - CNH announces Francesco Tutino as the new Chief Human Resources Officer (CHRO) effective May 1, 2025, succeeding Kelly Manley who served for 20 years [1][2] - Tutino has over 10 years of experience with CNH and Iveco Group, and was most recently Group Chief HR & Organization Officer at Prysmian [3] Contributions and Achievements - Kelly Manley contributed to establishing a strong company culture, advancing sustainability commitments, and achieving operational targets during her tenure [4] - The company expresses gratitude for Manley's leadership, which began in diversity and inclusion before transitioning to CHRO [4] Company Overview - CNH Industrial is a global leader in equipment, technology, and services, focusing on innovation, sustainability, and productivity [5] - The company offers a wide range of agricultural and construction products through its brands, including Case IH, New Holland, and others [5] - CNH has a diverse workforce of over 40,000 employees, committed to empowering customers and driving efficiency [6]

Financial Performance - Consolidated revenues for 2024 were $19,836 million, a decrease of 20% compared to $24,687 million in 2023[31]. - Net sales of industrial activities fell by 23% from $22,080 million in 2023 to $17,060 million in 2024[32]. - Net income for 2024 was $1,259 million, down 45% from $2,287 million in 2023[31]. - Diluted earnings per share decreased from $1.69 in 2023 to $0.99 in 2024, a decline of $0.70[32]. - As of December 31, 2024, the company reported a consolidated gross indebtedness of $26,882 million, with $23,173 million related to Financial Services activities[177]. - The funded status for the company's defined benefit pension plans showed a deficit of $356 million as of December 31, 2024[175]. - Rising interest rates could negatively impact customer demand for products and services, as well as customers' ability to service financing provided by the Financial Services segment[170]. - Negative economic conditions could lead to increased delinquencies and defaults, adversely affecting the performance of Financial Services and overall earnings[174]. Market Dynamics - The agriculture machinery industry is influenced by factors such as net farm income, government subsidies, and weather conditions[33]. - The construction equipment market is segmented into heavy and light construction equipment, with the former weighing more than 12 metric tons[40]. - In developed markets, customers prefer sophisticated machines with advanced technology, while in developing markets, cost-effective and durable equipment is favored[41]. - The demand for heavy construction equipment is closely linked to government spending and economic growth, with a significant portion tied to infrastructure projects[45]. - The light construction equipment market is influenced by residential and commercial construction levels, which are affected by interest rates and financing availability[47]. - The agricultural equipment market is cyclical and influenced by factors such as farm income, commodity prices, and weather conditions, which can adversely affect demand for agricultural equipment[115]. - Climate change and unfavorable weather conditions could significantly affect agricultural equipment purchasing decisions, impacting demand for the company's products[133]. Strategic Initiatives - The company acquired Augmenta in 2023, enhancing its capabilities in automating and optimizing farming operations[21]. - CNH began production of full-electric compact construction equipment in 2023, including electric mini excavators and compact wheel loaders[29]. - A multi-year supply chain transformation program was initiated in 2023 to enhance supplier relationships and foster co-development initiatives[70]. - The company plans to invest significantly in research and development to enhance precision technology solutions, including automation and electrification, to remain competitive in the market[126]. - A new Global Leadership Team has been established to focus on profitable long-term growth, particularly in the Agriculture segment, but the implementation may involve complexities and risks[130]. Financial Services - Financial Services segment provides wholesale financing to dealers and distributors, primarily for inventory financing[30]. - Financial Services offers a range of financing products, including retail notes and dealer floorplan financing, to support equipment sales and customer loyalty[71]. - Financial Services funds operations through term receivable securitizations, secured and unsecured facilities, and retained earnings[85]. - Dealer financing includes a fixed period of "interest-free" financing, with costs recognized as a reduction in net sales[81]. - Financial Services' minimum down payment guidelines for equipment range from 5% to 30% based on various factors[80]. Operational Challenges - The company faces risks from global economic conditions, including changes in interest rates and inflation, which could negatively impact demand for its products[114]. - Competitive activity in the agricultural and construction equipment markets has intensified, with competitors potentially offering products at lower prices, affecting the company's market position[123]. - The company is exposed to political and economic risks due to its global operations, which may impact manufacturing and sales capabilities[116]. - Changes in government policies, such as subsidies and trade agreements, can significantly influence the company's revenue and operational strategies[125]. - The company relies on suppliers for raw materials, and disruptions in the supply chain could adversely affect manufacturing capabilities and costs[141]. - Fluctuations in the availability and price of raw materials, such as steel and aluminum, could lead to increased production costs, adversely affecting financial performance[143]. - Dealer inventory management decisions could negatively impact sales if dealers do not maintain sufficient inventory to meet customer demand[146]. Compliance and Regulatory Risks - The company is subject to increased regulatory scrutiny and reporting requirements, which may raise compliance costs and risks of investigations[148]. - The company faces significant cybersecurity risks, including threats from malware and phishing attacks, which could compromise confidential information and negatively impact operations[150]. - A material weakness in internal control over financial reporting has been identified, specifically related to IT general controls and inventory management, which could affect the accuracy of financial reporting[164]. - Compliance with increasingly stringent environmental regulations is expected to incur substantial costs, impacting the company's ability to sell products in certain jurisdictions[156]. - The company is subject to extensive laws and regulations, including anti-corruption and antitrust laws, which could lead to investigations and penalties, adversely affecting business operations[159]. - Difficulty in obtaining financing or refinancing existing debt could negatively impact financial performance, especially in unfavorable market conditions[165]. Shareholder Information - The company’s common stock was listed on the NYSE under the symbol "CNH" as of May 20, 2024, transitioning from "CNHI" and previously listed on Euronext Milan[205]. - As of January 31, 2025, there were 407 registered holders of the company's common stock, excluding those holding shares through brokers and other nominees[206]. - The cumulative total shareholder return for the company was $130 for the five-year period ending December 31, 2024, compared to $164 for the S&P Midcap 400 Index[208]. - The company maintains a dividend policy allowing for annual dividends of 25-35% of consolidated net income, with future payments dependent on earnings and financial condition[209]. - In February 2024, the company authorized a $500 million share buyback program effective March 1, 2024, allowing for repurchase of common shares based on market conditions[211]. Employee and Diversity Initiatives - Employee count as of December 31, 2024, is 35,850, including 10,342 in the U.S. and Canada[89]. - CNH's commitment to diversity and inclusion was formalized in a policy adopted in 2023[91]. - The company aims for a zero-accident and zero-injury rate in its occupational health and safety initiatives[94]. - Employee compensation includes base salary, benefits, and performance-based incentives, aligned with market benchmarks[95]. - The ability to attract and retain qualified personnel is critical for executing business strategy and expansion, with potential impacts from higher employee turnover rates[155].

Core Insights - CNH has been recognized by S&P Global as ranking in the top 5% of its industry in the 2025 Sustainability Yearbook, achieving the second highest performance in its industry group [1][2] - The company scored 79 out of 100 in the Machinery and Electrical Equipment Industry category and has also been included in S&P Global's Dow Jones Sustainability World and North America Indices [2] Sustainability Efforts - CNH emphasizes its commitment to sustainability by focusing on technologies that enhance efficiency and reduce environmental impact, including automation and sensor technologies in its products [4] - The company has made significant strides in cutting carbon emissions, increasing renewable energy use, and expanding remanufacturing efforts [4] - Recent product innovations include the launch of the industry's first electric backhoe loader, which offers zero noise and zero emissions solutions [4] Recognition and Awards - CDP has awarded CNH A- scores for Climate and Water in its 2024 results, highlighting the company's environmental performance [5] - The company has a long history of innovation and customer efficiency, with over 40,000 employees contributing to its diverse and inclusive workplace [6] Company Overview - CNH Industrial is a global leader in equipment, technology, and services, focusing on innovation, sustainability, and productivity [5] - The company operates various brands, including Case IH, New Holland, CASE, and New Holland Construction Equipment, providing a comprehensive range of agricultural and construction products [5]