We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CNH Industrial (CNH - Free Report) reported first-quarter 2025 adjusted earnings per share (EPS) of 10 cents, which declined from 33 cents in the prior-year quarter. The figure, however, surpassed the Zacks Consensus Estimate of 9 cents.
In the first quarter, consolidated revenues declined nearly 21% from the year-ago level to $3.82 billion but topped the Zacks Consensus Estimate of $3.79 billion. The company’s net sales from industrial activities came in at $3.17 billion, down 23% due to lower shipment volumes.
CNH Industrial N.V. Price, Consensus and EPS Surprise
In the first quarter, net sales in the Agriculture segment fell 23% year over year to $2.58 billion due to lower shipment volume. The metric also missed our estimate of $2.62 billion. The segment’s adjusted EBIT came in at $139 million, down 64% year over year due to lower volumes. The figure also missed our estimate of $237.6 million. The adjusted EBIT margin decreased to 5.4% from 11.5%.
The Construction segment’s sales declined 22% year over year to $591 million as a result of lower volume. The metric also missed our estimate of $592.1 million. Adjusted EBIT came in at $14 million, down 73% year over year due to lower volume and unfavorable net price realization. The figure also missed our estimate of $26.1 million. The adjusted EBIT margin decreased to 2.4% from 6.7%.
The Financial Services segment’s revenues fell 5% to $651 million due to lower equipment sales, lower yields in South America and the unfavorable impact of currency translation. However, the metric surpassed our estimate of $536.7 million. Net income from the segment fell to $90 million from $118 million reported in the year-ago quarter.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Financial Details of CNH
CNH Industrial had cash and cash equivalents of $1.7 billion as of March 31, 2025, down from $3.19 billion as of Dec. 31, 2024.
The company’s debt totaled $26 billion as of March 31, 2025, down from $26.9 billion as of Dec. 31, 2024.
The company’s net cash provided by operating activities was $162 million compared with net cash used by operating activities of $894 million reported in the year-ago period.
CNH reported a negative free cash flow from industrial activities of $567 million in the quarter compared with a negative free cash flow of $1.21 billion in the first quarter of 2024.
CNH Updates Guidance for 2025
In 2025, Agriculture sales are expected to decrease 12-20% compared with the prior estimate of a decline of 13-18%. Adjusted EBIT margin for the Agriculture segment is expected in the band of 7-9% compared with the previously guided range of 8.5-9.5%. For the Construction segment, sales are expected to decrease 4-15% year over year compared with the previous estimate of a decline of 5-10%. Adjusted EBIT margin for the construction segment is expected in the band of 2-4%, down from the earlier guidance of 4-5%.
The company expects free cash flow from industrial activities in the band of $100-$500 million compared with the previously guided range of $200-$500 million. Adjusted EPS is expected between 50 cents and 70 cents compared with the previous estimate of 65-75 cents.
The Zacks Consensus Estimate for ADRZY’s 2025 earnings suggests year-over-year growth of 7.34%. EPS estimates for 2025 and 2026 have improved 8 cents and 7 cent, respectively, in the past 60 days.
The Zacks Consensus Estimate for KNYJY’s 2025 sales and earnings suggests year-over-year growth of 2.46% and 13%, respectively. EPS estimates for 2025 and 2026 have improved 2 cents and 3 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for KALU’s 2025 sales and earnings suggests year-over-year growth of 9.08% and 66.14%, respectively. EPS estimates for 2025 and 2026 have improved 69 cents and 14 cents, respectively, in the past seven days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CNH Industrial Q1 Earnings Surpass Expectations, Guidance Revised
CNH Industrial (CNH - Free Report) reported first-quarter 2025 adjusted earnings per share (EPS) of 10 cents, which declined from 33 cents in the prior-year quarter. The figure, however, surpassed the Zacks Consensus Estimate of 9 cents.
In the first quarter, consolidated revenues declined nearly 21% from the year-ago level to $3.82 billion but topped the Zacks Consensus Estimate of $3.79 billion. The company’s net sales from industrial activities came in at $3.17 billion, down 23% due to lower shipment volumes.
CNH Industrial N.V. Price, Consensus and EPS Surprise
CNH Industrial N.V. price-consensus-eps-surprise-chart | CNH Industrial N.V. Quote
CNH Industrial’s Segmental Performance
In the first quarter, net sales in the Agriculture segment fell 23% year over year to $2.58 billion due to lower shipment volume. The metric also missed our estimate of $2.62 billion. The segment’s adjusted EBIT came in at $139 million, down 64% year over year due to lower volumes. The figure also missed our estimate of $237.6 million. The adjusted EBIT margin decreased to 5.4% from 11.5%.
The Construction segment’s sales declined 22% year over year to $591 million as a result of lower volume. The metric also missed our estimate of $592.1 million. Adjusted EBIT came in at $14 million, down 73% year over year due to lower volume and unfavorable net price realization. The figure also missed our estimate of $26.1 million. The adjusted EBIT margin decreased to 2.4% from 6.7%.
The Financial Services segment’s revenues fell 5% to $651 million due to lower equipment sales, lower yields in South America and the unfavorable impact of currency translation. However, the metric surpassed our estimate of $536.7 million. Net income from the segment fell to $90 million from $118 million reported in the year-ago quarter.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Financial Details of CNH
CNH Industrial had cash and cash equivalents of $1.7 billion as of March 31, 2025, down from $3.19 billion as of Dec. 31, 2024.
The company’s debt totaled $26 billion as of March 31, 2025, down from $26.9 billion as of Dec. 31, 2024.
The company’s net cash provided by operating activities was $162 million compared with net cash used by operating activities of $894 million reported in the year-ago period.
CNH reported a negative free cash flow from industrial activities of $567 million in the quarter compared with a negative free cash flow of $1.21 billion in the first quarter of 2024.
CNH Updates Guidance for 2025
In 2025, Agriculture sales are expected to decrease 12-20% compared with the prior estimate of a decline of 13-18%. Adjusted EBIT margin for the Agriculture segment is expected in the band of 7-9% compared with the previously guided range of 8.5-9.5%. For the Construction segment, sales are expected to decrease 4-15% year over year compared with the previous estimate of a decline of 5-10%. Adjusted EBIT margin for the construction segment is expected in the band of 2-4%, down from the earlier guidance of 4-5%.
The company expects free cash flow from industrial activities in the band of $100-$500 million compared with the previously guided range of $200-$500 million. Adjusted EPS is expected between 50 cents and 70 cents compared with the previous estimate of 65-75 cents.
Zacks Rank & Key Picks
CNH carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the Industrial Products sector are Andritz AG (ADRZY - Free Report) , KONE Oyj (KNYJY - Free Report) and Kaiser Aluminum Corporation (KALU - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ADRZY’s 2025 earnings suggests year-over-year growth of 7.34%. EPS estimates for 2025 and 2026 have improved 8 cents and 7 cent, respectively, in the past 60 days.
The Zacks Consensus Estimate for KNYJY’s 2025 sales and earnings suggests year-over-year growth of 2.46% and 13%, respectively. EPS estimates for 2025 and 2026 have improved 2 cents and 3 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for KALU’s 2025 sales and earnings suggests year-over-year growth of 9.08% and 66.14%, respectively. EPS estimates for 2025 and 2026 have improved 69 cents and 14 cents, respectively, in the past seven days.