CNH Industrial Announces Q1 and Full 2024 Earnings
CNH Industrial has reported results for the first quarter and full year 2024 earnings. The company statement offered the following update:
- Fourth quarter consolidated revenues declined 28%;
- Full year consolidated revenues declined 20% on lower industry demand for Agriculture and Construction equipment
- Fourth quarter net income of $176 million; full year net income of $1,259 million
- Full year diluted EPS at $0.99; adjusted diluted EPS at $1.05
- Results reflect channel destocking and continued execution of cost savings initiatives
CNH Industrial reported a 28% decline in Q4 consolidated revenues and a 20% drop in full-year revenues due to lower demand for Agriculture and Construction equipment. Q4 net income was $176 million, down from $583 million in 2023, with diluted EPS at $0.14. For the full year, net income was $1,259 million, with diluted EPS of $0.99 and adjusted diluted EPS of $1.05. The company highlighted cost-saving measures and channel destocking. Its 2025 outlook predicts a 13%-18% drop in agriculture segment net sales.
Source: Farm-Equipment.com