Lucid files for 1-for-10 reverse stock split requiring shareholder approval
BASILDON, UK, on Tuesday, CNH Industrial (BIT:CNHI) N.V. (NYSE:CNH) reported fourth quarter results that fell short of analyst expectations, while also providing a disappointing outlook for 2025, sending shares down -2.71% in pre-market trading.
The agricultural and construction equipment maker posted adjusted earnings per share of $0.15 for Q4, missing the consensus estimate of $0.19. Revenue came in at $4.88 billion, below analyst projections of $5.07 billion and down 28% YoY.
CNH Industrial’s Q4 net sales of Industrial Activities, which includes its Agriculture and Construction segments, declined 31% YoY to $4.13 billion. The company cited lower shipment volumes due to decreased industry demand and dealer destocking efforts.
For the full year 2024, CNH Industrial reported consolidated revenues of $19.84 billion, down 20% compared to 2023. Net income for the year fell to $1.26 billion from $2.29 billion in 2023.
Looking ahead, CNH Industrial provided a cautious outlook for 2025, forecasting adjusted EPS between $0.65 and $0.75. This range falls well below the current analyst consensus of $0.84 per share.
"The challenging market conditions will continue at least through the first half of 2025, and we will keep production levels fairly low by design to drive channel inventory down further," said CEO Gerrit Marx.
The company expects Agriculture segment net sales to decline between 13% and 18% YoY in 2025, while Construction segment net sales are projected to fall 5% to 10%.
Despite the near-term headwinds, Marx expressed confidence that CNH Industrial’s ongoing efforts to streamline operations will position the company well for future regional market cycles.
CNH Industrial’s stock price decline following the earnings release reflects investor concerns about the weaker-than-expected results and subdued 2025 guidance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.