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CNH Industrial: 3Q23 Revenue Up 2% to $6 Billion

CNH Industrial today reported results for the 3 months ended Sept. 30, 2023 with net income of $570 million compared with net income of $559 million for the 3 months ended Sept. 30, 2022. Consolidated revenues were $5.99 billion (up approximately 2% compared to Q3 2022). Net cash provided by operating activities was $232 million and Industrial Free Cash Flow absorption was $127 million in Q3.

Net sales of Industrial Activities were $5.33 billion, a decrease of 1% when compared to the corresponding period from the previous year. This decline is mainly due to lower industry demand in Agriculture, especially in South America and in EMEA for combines. Pricing continued to be favorable for both Industrial segments, and Construction net sales grew by approximately 6%.

Gross profit margin of Industrial Activities was 23.9% (23% in Q3 2022) with improvement from the corresponding period from the previous year in both Agriculture and Construction, reflective of favorable price realization and of improving operating performance.

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How women saved agricultural economics and other ideas for why diversity matters | Jill J. McCluskey

Video: How women saved agricultural economics and other ideas for why diversity matters | Jill J. McCluskey

Dr. Jill J. McCluskey, Regents Professor at Washington State University and Director of the School of Economic Science

Dr. McCluskey documents that women entered agricultural economics in significant numbers starting in the 1980s, and their ranks have increased over time. She argues that women have increased the relevance in the field of agricultural economics through their diverse interests, perspectives, and experiences. In their research, women have expanded the field's treatment of non-traditional topics such as food safety and nutrition and environmental and natural resource economics. In this sense, women saved the Agricultural Economics profession from a future as a specialty narrowly focused on agricultural production and markets. McCluskey will go on to discuss some of her own story and how it has shaped some of her thinking and research. She will present her research on dual-career couples in academia, promotional achievement of women in both Economics and Agricultural Economics, and work-life support programs.

The Daryl F. Kraft Lecture is arranged by the Department of Agribusiness and Agricultural Economics, with the support of the Solomon Sinclair Farm Management Institute, and in cooperation with the Faculty of Agricultural and Food Sciences.