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
In a detailed overview, CNH Industrial has reported results for the three months and 12 months ended December 31, 2024, with Q4 2024 net income of $176 million and diluted earnings per share of $0.14, compared with net income of $583 million and diluted earnings per share of $0.44 in Q4 2023(1). Consolidated revenues were $4.88 billion in the quarter (down 28% compared to Q4 2023) and Net sales of Industrial Activities were $4.13 billion (down 31% compared to Q4 2023). Net cash provided by operating activities was $1,692 million, and Industrial Free Cash Flow was $848 million in Q4 2024.
Additionally, the company says that the 2025 outlook for agriculture segment net sales is expected to be down between 13% and 18% year-over-year, including currency translation effects. Its forecast also noted its agriculture segment adjusted EBIT margin will land between 8.5% and 9.5%.
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