(Adds Outlook)
Looking ahead, Gerrit Marx, CEO of CNH Industrial N.V. (CNH), said: "The challenging market conditions will continue at least through the first half of 2025, and we will keep production levels fairly low by design to drive channel inventory down further."
For the full-year 2025, the company expects adjusted income per share of $0.65 to $0.75, below analysts' forecast of $0.84 per share.
CNH expects a decline in annual net sales as it believes global industry retail sales will be lower in both the agriculture and construction equipment markets when compared with 2024. Further, the company is focused on driving down excess channel inventory primarily by producing fewer units than the retail demand level.
CNX was trading down by 3.66 percent at $12.10 in the pre-market trade on the New York Stock Exchange.
Q4 Results:
CNH Global NV (CNH) revealed a profit for fourth quarter that decreased from last year and missed the Street estimates.
The company's earnings came in at $176 million, or $0.14 per share. This compares with $583 million, or $0.44 per share, last year.
Excluding items, CNH Global NV reported adjusted earnings of $196 million or $0.15 per share for the period.
Analysts on average had expected the company to earn $0.19 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 28.2% to $4.876 billion from $6.792 billion last year.
CNH Global NV earnings at a glance (GAAP) :
-Earnings: $176 Mln. vs. $583 Mln. last year.
-EPS: $0.14 vs. $0.44 last year.
-Revenue: $4.876 Bln vs. $6.792 Bln last year.
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