CNH Industrial (CNHI) reported first-quarter 2024 adjusted earnings per share (EPS) of 33 cents, down from 35 cents in the prior-year quarter. The figure, however, beat the Zacks Consensus Estimate of 26 cents.In the first quarter, consolidated revenues declined nearly 10% from the year-ago level to $4.82 billion and beat the consensus mark of $4.64 billion. The company’s net sales from industrial activities came in at $4.13 billion, down 14% due to lower industry demand and dealer inventory management.Segm ...

Share Buyback and Capital Management - CNH announced a $1 billion share buyback program that expired on March 1, 2024, and a new $500 million buyback program was authorized in February 2024[13]. - A total of 48,612,288 shares were repurchased under the buyback programs from January 1, 2024, to March 31, 2024, at an average price of $11.95 per share[13]. - As of March 31, 2024, approximately $470,091,739 worth of shares may yet be purchased under the buyback plans[13]. - The company reported a cash outflow of $581 million related to the share buyback program[27]. Debt and Financing - The company has outstanding bonds totaling $3,909 million, with various maturities and coupon rates[25]. - CNH Industrial Capital LLC has issued bonds totaling $5,544 million, with various coupon rates and maturities[25]. - The company has a bond listed on the New York Stock Exchange with a face value of $500 million and a coupon rate of 3.850%, maturing on November 15, 2027[24]. - As of March 31, 2024, total debt was $27,850 million, an increase from $27,472 million as of December 31, 2023[27]. - The company entered into a new multicurrency revolving credit agreement providing for an unsecured, committed revolving credit facility of €3.25 billion, with an option to increase by an additional €500 million[150]. Financial Performance - Total revenues for Q1 2024 were $4,818 million, a decrease of 9.8% from $5,342 million in Q1 2023[42]. - Net income for Q1 2024 was $402 million, down 17.3% from $486 million in Q1 2023[45]. - Basic earnings per share for Q1 2024 were $0.32, compared to $0.36 in Q1 2023, reflecting an 11.1% decline[42]. - Cash flows from operating activities were negative at $(894) million for Q1 2024, compared to $(701) million in Q1 2023[49]. - The company reported a restructuring expense of $31 million in Q1 2024, significantly higher than $1 million in Q1 2023[42]. Assets and Liabilities - Total assets decreased to $45,726 million from $46,351 million at the end of 2023, a reduction of 1.4%[40]. - Total liabilities decreased to $37,714 million from $38,117 million at the end of 2023, a decline of 1.1%[40]. - Cash and cash equivalents decreased to $3,236 million as of March 31, 2024, from $4,322 million at December 31, 2023[27]. - The company reported total retained earnings of $10,151 million, an increase from $9,750 million at December 31, 2023[52]. Revenue Breakdown - Revenue from agricultural sales was $3,373 million, down from $3,927 million, while construction revenue decreased to $758 million from $849 million[64]. - Financial services revenue increased to $685 million, up from $549 million year-over-year[64]. - Agriculture segment net sales totaled $3,373 million for the three months ended March 31, 2024, a decline of 14.1% compared to the same period in 2023[182]. - Construction net sales were $758 million for the three months ended March 31, 2024, down 10.7% year-over-year[184]. Credit and Receivables - The total allowance for credit losses was $330 million for retail and $50 million for wholesale, reflecting an increase in retail reserves primarily in South America[85]. - The total past due receivables were reported at $43 million, with 41 million in the 31-60 days past due category and 2 million in the 61-90 days past due category[90]. - The aging of financing receivables indicates that the majority of non-performing receivables are generally 90 days past due[88]. - The receivables balance greater than 30 days past due was 1.7% as of March 31, 2024, compared to 1.4% a year earlier[188]. Legal and Risk Factors - The company reported no material changes in risk factors from the previous annual report[12]. - There were no significant legal proceedings reported that could impact the financial condition of the company[11]. - The company is exposed to various legal risks, including product liability and environmental risks[28]. - Forward-looking statements indicate potential risks including economic conditions, supply chain disruptions, and geopolitical events[30]. Other Financial Metrics - The effective tax rate for the three months ended March 31, 2024, was 19.2%, a decrease from 27.6% in the same period of 2023[70]. - Interest expense rose to $394 million, up from $272 million, primarily due to higher rates and outstanding debt[166]. - The company recorded amortization expense of $45 million for the three months ended March 31, 2024, compared to $38 million for the same period in 2023[102]. - The total notional amount of foreign exchange derivatives was $5.4 billion as of March 31, 2024, down from $6.1 billion at December 31, 2023, representing a decrease of approximately 11.5%[124].

Basildon, May 3, 2024 CNH Industrial N.V. (NYSE:CNHI) today held its annual general meeting of shareholders. Shareholders re-appointed the Company's director nominees, including Suzanne Heywood and Scott W. Wine as executive directors1, and Elizabeth Bastoni, Howard W. Buffett, Richard J. Kramer, Karen Linehan, Alessandro Nasi, Vagn Sørensen and Åsa Tamsons as non-executive directors.   Shareholders also approved a dividend of $0.47 per common share (equivalent to a total distribution of approximately $585 ...

CNH Industrial N.V. (NYSE:CNHI) Q1 2024 Earnings Conference Call May 2, 2024 9:00 AM ET Company Participants Jason Omerza – Vice President-Investor Relations Scott Wine – Chief Executive Officer Oddone Incisa – Chief Financial Officer Conference Call Participants Mig Dobre – Baird Jamie Cook – Truist Nicole DeBlase – Deutsche Bank David Raso – Evercore Mike Shlisky – D.A. Davidson Kristen Owen – Oppenheimer Tami Zakaria – JPMorgan Angel Castillo – Morgan Stanley Michael Feniger – Bank of America Operator La ...

INVESTOR RELATIONS CONTACTS investor.relations@cnh.com CNH 3 Q1 2024 results review | May 2, 2024 Q1 2024 | RESULTS Consolidated Revenues $4.8B (10)% Adj. EBIT1 Industrial Activities $405M (27)% Net Income $402M (17)% Diluted EPS $0.31 ($0.04) Net Sales Industrial Activities $4.1B (14)% (180) bps (11)% ($0.02) Adj. EBIT%1 Industrial Activities 9.8% Adjusted Net Income1 $421M Adjusted Diluted EPS1 $0.33 YoY vs Q1 2023 All statements other than statements of historical fact contained in this presentation incl ...

CNH Industrial (CNHI) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.92%. A quarter ago, it was expected that this truck, tractor and bus maker would post earnings of $0.41 per share when it actually produced earnings of $0.42, delivering a surprise of 2.44%.Over the last four qua ...

CNH Industrial N.V. Reports First Quarter 2024 Results First quarter consolidated revenue declined 10% on lower industry demand First quarter diluted EPS at $0.31; adjusted diluted EPS at $0.33 ($0.35 in the first quarter of 2023) Exhibit 99.1 First quarter Agriculture segment adjusted EBIT margin down 200 bps year-over-year to 12.5%; Construction up 150 bps to 6.7% Cost reduction programs on track, helping to mitigate impact of slowing markets Full-year guidance updated to reflect lower agriculture industr ...

Basildon, May 1, 2024 CNH Industrial (NYSE:CNHI) announces that the Company's common shares listed on the New York Stock Exchange (NYSE) will begin trading under the symbol "CNH" effective Monday, May 20, 2024. This will replace the Company's current ticker symbol, "CNHI", marking a return to both our original ticker symbol "CNH" – used until 2013 – and our identity as a leading pureplay provider of equipment, technology and services for agriculture and construction. CNH Industrial N.V. will remain the nam ...

Analysts on Wall Street project that CNH Industrial (CNHI) will announce quarterly earnings of $0.26 per share in its forthcoming report, representing a decline of 25.7% year over year. Revenues are projected to reach $4.64 billion, declining 13.1% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this peri ...

CNH kicks off A Sustainable Year series with a focus on AI Basildon, April 30, 2024 Today, CNH announces the first in a series of stories to be featured in its latest A Sustainable Year magazine. The annual publication promotes the company's innovation and sustainability initiatives. The first story explains how humans can learn to trust the recommendations of artificial intelligence (AI). AI has broad manufacturing applications that can increase efficiency and productivity, so it is important to understand ...