CNH Industrial N.V. Reports Q3 2024 Results

CNH Industrial reported a net income of $310 million and earnings per share of $0.24 for Q3 2024, down from $540 million and $0.40 per share in Q3 2023.

London, United Kingdom - CNH Industrial N.V., an agricultural machinery manufacturer, reported a net income of $310 million and diluted earnings per share of $0.24 for the three months ending September 30, 2024, compared to a net income of $540 million and diluted earnings per share of $0.40 for the same period in 2023.

Consolidated revenues for Q3 2024 were $4.65 billion, a 22% decrease from Q3 2023, while net sales from industrial activities were $4.00 billion, down 25%. Net cash from operating activities was $791 million, with an industrial free cash flow absorption of $180 million.

Mr. Gerrit Marx, Chief Executive Officer at CNH, said, “With the current challenging market conditions facing farmers across the globe, CNH is implementing decisions to advance our transformation journey. We have focused on making the Company’s operations more efficient and on being more responsive to our customers’ needs. But dealer inventories remain elevated and will require additional efforts to align with retail demand. As we further adjust production levels while making investments in technology and quality-improving processes, we are positioning ourselves for the long term and cementing our leading position in the industry. We look forward to sharing more details of our strategy at our investor day on May 8, 2025.”