CNH Industrial N.V. (NYSE:CNHI) Q3 2023 Earnings Conference Call November 7, 2023 9:30 AM ET Company Participants Jason Omerza - VP of IR Scott Wine - CEO Oddone Incisa - President and CFO Conference Call Participants Steven Fisher - UBS Nicole DeBlase - Deutsche Bank Michael Feniger - Bank of America David Raso - Evercore ISI Timothy Thein - Citi Tami Zakaria - JPMorgan Daniela Costa - Goldman Sachs Kristen Owen - Oppenheimer Operator Hello, and welcome to the CNH Industrial Third Quarter Conference Call. ...

1 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR Commission File Number: 001-36085 CNH INDUSTRIAL N.V. (Exact name of registrant as specified in its charter) Registrant's telephone number including area code: +44 207 925 1964 Former name, former address and former fiscal year, if changed since last report: N/A Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol ...

Financial Performance - Net sales for Q2 2023 reached $5,954 million, an increase from $5,613 million in Q2 2022, representing a growth of 6.1%[27] - Total revenues for the first half of 2023 were $11,909 million, compared to $10,727 million in the same period of 2022, reflecting a year-over-year increase of 11.0%[27] - Net income attributable to CNH Industrial N.V. for Q2 2023 was $706 million, up from $548 million in Q2 2022, marking a 28.8% increase[28] - Basic earnings per share for Q2 2023 were $0.53, compared to $0.40 in Q2 2022, indicating a growth of 32.5%[24] - The company reported a comprehensive income of $776 million for Q2 2023, compared to $592 million in Q2 2022, indicating a growth of 31.1%[28] - Total revenues for the three months ended June 30, 2023, were $6,567 million, an increase of 8% compared to $6,082 million for the same period in 2022[37] - For the six months ended June 30, 2023, total revenues reached $11,909 million, up 11% from $10,727 million in the prior year[37] - Net income for the three months ended June 30, 2023, was $333 million, with a comprehensive income of $130 million[30] - Net income for the three months ended June 30, 2023, was $710 million, an increase of 28.7% compared to $552 million for the same period in 2022[134] Expenses and Costs - Research and development expenses for Q2 2023 totaled $269 million, an increase from $212 million in Q2 2022, representing a rise of 26.8%[27] - Selling, general and administrative expenses decreased to $10 million for the three months ended June 30, 2023, from $12 million in the same period of 2022, a reduction of 16.7%[142] - Cost of goods sold for the three months ended June 30, 2023, was $279 million, up from $243 million in the same period of 2022, indicating a 14.8% increase[144] - Interest expense for Q2 2023 was $323 million, significantly higher than $162 million in Q2 2022[157] - Interest expense for the six months ended June 30, 2023, was $595 million, compared to $300 million in the same period of 2022[199] Assets and Liabilities - CNH Industrial's total assets as of June 30, 2023, were $9,658 million, compared to $9,403 million at the end of 2022, showing an increase of 2.7%[23] - Total liabilities stood at $8,739 million as of June 30, 2023, up from $8,485 million at the end of 2022, reflecting a growth of 3.0%[23] - The total of other liabilities increased to $5,417 million as of June 30, 2023, compared to $4,847 million as of December 31, 2022, reflecting an increase of 11.7%[67] - The company’s retained earnings increased to $6,282 million as of January 1, 2022, following a demerger of the Iveco Group[30] Financing and Receivables - As of June 30, 2023, total financing receivables amounted to $12.683 billion, an increase from $11.348 billion as of December 31, 2022, representing an increase of approximately 11.7%[50] - Retail note and finance lease receivables were $6.581 billion as of June 30, 2023, down from $6.766 billion as of December 31, 2022, indicating a decrease of about 2.7%[50] - Wholesale receivables increased significantly to $6.102 billion as of June 30, 2023, compared to $4.582 billion as of December 31, 2022, reflecting a growth of approximately 33.1%[50] - The total performing receivables as of June 30, 2023, were $12.151 billion, with non-performing receivables totaling $61 million[56] - The company is actively monitoring the credit quality of its financing receivables, with a focus on managing delinquency rates and non-performing loans[56] Acquisitions and Investments - The company acquired Augmenta Holding SAS for approximately $79 million, enhancing its technology portfolio[17] - The company recorded goodwill increases of $76 million and $118 million from the acquisitions of Augmenta Holding SAS and Bennamann LTD, respectively, in Q1 2023[65] - The company’s equity method investments increased to $352 million as of June 30, 2023, up from $331 million as of December 31, 2022[55] Segment Performance - Revenues from the agriculture segment for the three months ended June 30, 2023, were $4,890 million, a 3.6% increase from $4,722 million in the same period of 2022[135] - Revenues from the construction segment for the three months ended June 30, 2023, were $1,064 million, a significant increase of 19.4% compared to $891 million in the same period of 2022[135] - Financial services revenues for the three months ended June 30, 2023, were $603 million, reflecting a 28.0% increase from $471 million in the same period of 2022[135] Market and Economic Conditions - Global industry volume for heavy construction equipment was down 9% year over year in the second quarter of 2023[191] - The company continues to focus on expanding its digital agriculture and precision technology offerings through the Raven brand, which supports autonomous systems[48] Other Financial Metrics - The company recorded fixed asset write-downs of $17 million related to the suspension of operations in Russia during the six months ended June 30, 2022[114] - The company incurred a loss of $39 million reclassified from accumulated other comprehensive income into income for the six months ended June 30, 2023[89] - The fair value of foreign exchange derivatives designated as hedging instruments was $74 million as of June 30, 2023, compared to $70 million at December 31, 2022[92]

CNH Industrial N.V. (NYSE:CNHI) Q2 2023 Earnings Conference Call July 28, 2023 9:30 AM ET Company Participants Jason Omerza - Vice President of Investor Relations Scott Wine - Chief Executive Officer Oddone Incisa - President & Chief Financial Officer Conference Call Participants Nicole DeBlase - Deutsche Bank Mig Dobre - Baird Steven Fisher - UBS Kristen Owen - Oppenheimer David Raso - Evercore ISI Tami Zakaria - JPMorgan Gabriele Gambarova - Banca Akros Jamie Cook - Credit Suisse Daniela Costa - Goldman S ...

Q2 2023 RESULTS REVIEW July 28, 2023 Q2 2023 | MAIN ACHIEVEMENTS Q2 2023 | RESULTS (1) Non-GAAP measures (definition and reconciliation in appendix) CONSTRUCTION MOMENTUM Capitalizing on Sampierana product and technology integration STRATEGIC PRIORITIES Compass Room Daily Management System ($M) Q2 2022 Q2 2023 Adjusted Diluted EPS1 (1) Non-GAAP measure (definition and reconciliation in appendix); (2) At Constant Currency 4,722 4,890 Q2 2022 Q2 2023 +5% @CC2 +4% +360 bps 27.0% 23.4% Q2 2022 Q2 2023 16.8% 14. ...

Financial Performance - Total revenues for the three months ended March 31, 2023, were $5,342 million, an increase of 15% compared to $4,645 million for the same period in 2022[33]. - Net income for the first quarter of 2023 was $486 million, up from $336 million in the same quarter of 2022, representing a 44.6% increase[36]. - The agriculture segment generated revenues of $3,927 million for the three months ended March 31, 2023, compared to $3,377 million in the same period of 2022, marking a 16.3% increase[33]. - The construction segment reported revenues of $849 million for the first quarter of 2023, up from $803 million in the same quarter of 2022, a growth of 5.7%[33]. - Revenues from sales of goods reached $4,767 million, up from $4,174 million, reflecting a growth of 14.2% year-over-year[48]. - Total revenues from sales of goods and services amounted to $4,776 million, compared to $4,180 million in the previous year, indicating a 14.2% increase[48]. - Total retail revenues for the company reached $11,673 million, with a total of 83 charge-offs reported[53]. - Total retail revenue for 2022 reached $11,446 million, an increase from $11,338 million in 2021, representing a growth of 0.96%[54]. - Net income for the three months ended March 31, 2023, was $408 million, compared to $336 million for the same period in 2022, reflecting a year-over-year increase of about 21%[105]. - Financial Services Net Income was $78 million for the three months ended March 31, 2023, compared to $82 million in the same period of 2022[137]. Assets and Liabilities - Total assets increased to $40,566 million as of March 31, 2023, compared to $39,381 million at December 31, 2022, reflecting a growth of 3%[20]. - Total liabilities rose to $33,115 million as of March 31, 2023, compared to $32,405 million at December 31, 2022, an increase of 2.2%[20]. - Cash and cash equivalents decreased to $3,213 million as of March 31, 2023, down from $4,376 million at December 31, 2022, a decline of 26.6%[20]. - The company reported total costs and expenses of $4,716 million for the three months ended March 31, 2023, compared to $4,171 million for the same period in 2022, marking an increase of approximately 13%[105]. - Total debt, including payables to the Iveco Group, increased to $23,609 million as of March 31, 2023, compared to $23,118 million at December 31, 2022[110]. - The aggregate of cash and cash equivalents, restricted cash, undrawn facilities, and other current financial assets totaled $9,676 million as of March 31, 2023, down from $10,632 million at December 31, 2022[108]. - The balance of warranty and accruals for campaign programs at the end of March 2023 was $551 million, up from $501 million at the end of March 2022, representing a 9.96% increase[61]. Cash Flow and Operating Activities - Net cash used in operating activities improved to $(701) million from $(887) million year-over-year[37]. - Cash and cash equivalents and restricted cash at the end of the period were $4,005 million, slightly down from $4,061 million at the end of the previous year[37]. - Cash and cash equivalents decreased to $3,213 million from $4,376 million, a decline of 26.6%[140]. - Net cash (debt) position worsened to $(18,984) million from $(17,434) million, indicating a decline in liquidity[140]. - The company is focusing on cash preservation and leveraging its access to funding to maintain financial strength and liquidity[141]. Acquisitions and Investments - The company acquired Augmenta Holding SAS for approximately $79 million and Bennamann LTD for approximately $51 million in March 2023[41]. - The company recorded preliminary goodwill of $76 million and intangible assets of $35 million from the Augmenta acquisition[41]. - The Company recorded $81 million in intangible assets from the Augment and Bennamann acquisitions during Q1 2023, with asset valuations still pending finalization[70]. Research and Development - Research and development expenses increased to $231 million in Q1 2023 from $184 million in Q1 2022, indicating a focus on innovation[93]. - Research and development expenses for the three months ended March 31, 2023, were $231 million, up from $184 million in the same period of 2022, indicating a focus on innovation[105]. Market and Strategic Focus - The company is focused on expanding its market presence and enhancing its product offerings through new technologies and strategic initiatives[52]. - North America sales increased by 26.5% to $1,488 million in Q1 2023, contributing significantly to overall revenue growth[99]. - The company has exposure to various legal risks, which could potentially impact its financial position and results, although the reasonable possible range of losses is not expected to have a material effect on financial statements[61]. - CNH Industrial is exposed to various legal risks, including product liability and environmental risks, which may impact future operations[147]. Other Financial Metrics - Adjusted EBIT for Q1 2023 was $570 million, an increase of $144 million compared to $426 million in Q1 2022, with an adjusted EBIT margin of 14.5%[100]. - The effective tax rate for Q1 2023 was 27.6%, down from 33.5% in Q1 2022, influenced by discrete tax expenses from prior periods[97]. - The total performing loans for North America in 2023 were $7,160 million, while non-performing loans were $650 million[53]. - The total notional amount of interest rate derivatives was approximately $7.4 billion as of March 31, 2023, compared to $6.4 billion at December 31, 2022, reflecting a growth of 15.6%[66]. - The receivables balance greater than 30 days past due was 1.4% as of March 31, 2023, slightly up from 1.3% in the previous year[103]. - Other net expenses were $163 million for the three months ended March 31, 2023, down from $183 million in the same period of 2022[130]. - Foreign exchange losses for Industrial Activities were $6 million for the three months ended March 31, 2023, compared to $13 million in the same period of 2022[137].

CNH Industrial N.V. (NYSE:CNHI) Q1 2023 Results Conference Call May 5, 2023 9:30 AM ET Company Participants Jason Omerza - Vice President of Investor Relations Scott Wine - Chief Executive Officer Oddone Incisa - President and Chief Financial Officer Conference Call Participants Daniela Costa - Goldman Sachs Michael Feniger - Bank of America Jamie Cook - Credit Suisse Steven Fisher - UBS Tami Zakaria - JP Morgan Larry De Maria - William Blair Marta Bruska - Berenberg David Raso - Evercore ISI Mircea Dobre - ...

In addition to the New York Stock Exchange, CNHI common shares are listed on the Euronext Milan, the regulated market of Borsa Italiana, in Italy. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. o Yes þ No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Se ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36085 CNH INDUSTRIAL N.V. (Exact name of registrant as specified in its charter) Netherlands Not Applicable (State or other jurisdicti ...

Exhibit 99.1 NON-GAAP(2) Q3 2022 PY(1) Change CNH Industrial reports continued strength in its third quarter performance Consolidated revenues of $5,881 million (up 23.9% compared to Q3 2021 for continuing operations, up 29% at constant currency) Net income of $559 million, Adjusted Net Income of $557 million, with diluted EPS and adjusted diluted EPS of $0.41 Adjusted EBIT of Industrial Activities of $670 million (up $250 million compared to Q3 2021) Net cash provided by operating activities of $272 millio ...