CNH Industrial misses by $0.05, beats on revs; lowers FY25 EPS below consensus (10.26 -0.21)
- Reports Q3 (Sep) earnings of $0.08 per share, excluding non-recurring items, $0.05 worse than the FactSet Consensus of $0.13; revenues fell 5.5% year/year to $4.4 bln vs the $4.26 bln FactSet Consensus.
- Co issues lowered guidance for FY25, sees EPS of $0.44-0.50 from $0.50-0.70 vs. $0.58 FactSet Consensus. Guidance Details: Agriculture segment net sales down between 11% and 13% year-over-year, with no currency translation effects. Agriculture segment adjusted EBIT margin between 5.7% and 6.2%. Construction segment net sales down between 3% and 5% year-over-year, with no currency translation effects. Construction segment adjusted EBIT margin between 1.7% and 2.2%. Free cash flow of Industrial Activities(5) between $200 million and $500 million.
- "While the current trade environment remains challenging for our farmers and builders, CNH continues to take decisive actions to navigate near-term headwinds. We are maintaining disciplined production levels, reducing channel inventories, investing in technology, and driving operational excellence. Our commitment to quality and innovation is unwavering, as demonstrated by recent product launches and industry recognition. Looking ahead, we remain focused on achieving our long-term strategic targets. I am confident that the steps we are taking will position CNH for renewed growth and success as market conditions improve."