CNH Industrial backs FY25 adjusted EPS view 50c-70, consensus 62c

The Company continues to forecast that 2025 global industry retail sales will be lower in both the agriculture and construction equipment markets when compared to 2024. CNH is still focused on driving down excess channel inventory primarily by producing fewer units than the retail demand level, which will result in 2025 net sales being lower than in 2024. The lower production and sales levels will negatively impact our segment margin results. However, the Company’s ongoing efforts to reduce its operating costs will partially mitigate the margin erosion. CNH is continuing its focus on product cost reductions through lean manufacturing principles and strategic sourcing. The Company is also carefully managing its SG&A and R&D expenses. In addition to the lower cyclical industry sales, the Company is navigating a changing global trade environment. The uncertainty of the U.S. trade policy, the reactions of trading partners, and the impact to our end customers may affect our forecast for the year.