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Sep 30, 2025
CNH Industrial Q3 2025 Earnings Report
CNH Industrial reported weaker Q3 2025 results due to lower industry demand and channel destocking.
Key Takeaways
Revenue and net income declined significantly year-over-year as CNH faced macroeconomic headwinds, unfavorable geographic mix, and tariff pressures. While cost discipline helped limit margin erosion, adjusted EBIT and free cash flow weakened sharply.
Revenue by Segment
Forward Guidance
CNH updated its 2025 outlook with lower expected margins due to tariff impacts and unfavorable sales mix, though it increased net sales guidance for Industrial Activities.
Positive Outlook
- Net sales outlook raised due to stronger-than-expected volume in Construction.
- Tariff mitigation efforts are underway, including alternate sourcing and pricing.
- Operating cost reductions continue through lean manufacturing.
- SG&A and R&D costs are being carefully managed.
- Focus on product innovation and technology investments sustained.
Challenges Ahead
- Tariffs on steel and aluminum introduced in August 2025 are pressuring margins.
- Agriculture EBIT margins revised downward due to unfavorable geographic mix.
- Industrial free cash flow guidance lowered.
- Retail loan originations declined versus prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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