From GlobeNewswire: 2025-02-04 06:30:00

CNH Industrial N.V. reported a 28% decline in fourth-quarter consolidated revenues and a 20% decline in full-year consolidated revenues, driven by lower demand for Agriculture and Construction equipment. Net income for Q4 was $176 million, with full-year net income at $1,259 million. Diluted EPS for the full year was $0.99, while adjusted diluted EPS was $1.05.

The results reflect channel destocking and cost-saving initiatives. In Q4 2024, consolidated revenues were $4.88 billion, down 28% from Q4 2023. Net sales of Industrial Activities were $4.13 billion, down 31% from the previous year. Net cash provided by operating activities was $1,692 million, with Industrial Free Cash Flow at $848 million.

Full-year 2024 consolidated revenues were $19.84 billion, down 20% from the previous year. Net sales of Industrial Activities were $17.06 billion, down 23%. Full-year net income was $1,259 million, compared to $2,287 million in 2023. Adjusted net income was $1,339 million, with adjusted diluted earnings per share at $1.05.

CEO Gerrit Marx commended the CNH team for their dedication in achieving 2024 goals. Agriculture dealer inventory decreased by over $700 million in Q4, with production hours reduced by 34%. The company will continue efforts to align with market conditions, expecting challenging conditions through the first half of 2025. Production levels will remain low to reduce channel inventory.

The company’s proactive measures to streamline operations and adjust to industry dynamics position them well for the future. Marx expressed confidence in the team’s ability to navigate regional cycle dynamics. The financial results reflect the company’s commitment to efficiency and adaptation to market challenges. 1. The stock market saw a significant increase today, with the S&P 500 reaching a new record high. The index rose by 0.5% to close at 4,239.18, while the Dow Jones Industrial Average also climbed by 0.3% to 34,575.31.

2. In international news, tensions continue to rise between Russia and Ukraine as Russian forces conduct military exercises near the border. The United States and European Union have expressed concerns over the situation, calling for a de-escalation of hostilities.

3. COVID-19 vaccination efforts are ramping up in the United States, with over 50% of the population receiving at least one dose. The Biden administration has set a goal of having 70% of adults vaccinated by July 4th, as more states lift restrictions due to declining case numbers.

4. The tech industry is buzzing with excitement as Apple announces new updates at its annual Worldwide Developers Conference. The company unveiled iOS 15, macOS Monterey, and updates to its other operating systems, focusing on improved privacy features and enhanced user experience.

5. Climate change remains a pressing issue as a new report reveals that global carbon dioxide emissions are set to reach a record high in 2023. Experts warn that urgent action is needed to curb emissions and mitigate the impact of climate change on the planet. 1. The stock market reached new highs today, with the S&P 500 closing at a record 4,575 points. This marks the fifth straight day of gains for the index, driven by positive earnings reports from major tech companies like Apple and Amazon.

2. In other news, the unemployment rate dropped to 4.6% in the latest report, the lowest level since the start of the pandemic. This is a promising sign for the economy as more people return to work and businesses continue to rebound.

3. Researchers have discovered a new species of dinosaur in Argentina, named Llukalkan aliocranianus. This carnivorous dinosaur had a unique skull structure and likely roamed the Earth during the Late Cretaceous period. The discovery sheds new light on the diversity of dinosaurs in South America.

4. The United Nations reported that global carbon dioxide emissions are expected to reach record levels in 2023, despite efforts to reduce greenhouse gas emissions. This alarming trend highlights the urgent need for countries to take action to combat climate change and transition to more sustainable energy sources. 1. The stock market saw a dip today, with the S&P 500 falling by 0.5% and the Dow Jones Industrial Average dropping by 0.8%. The tech-heavy Nasdaq also experienced a decline of 0.3%, reflecting investor concerns over rising inflation and interest rates.

2. In economic news, the unemployment rate fell to 5.8% in the latest report, showing a positive trend in job growth. However, wage growth remained stagnant, raising concerns about the overall strength of the labor market recovery.

3. The housing market continues to show strength, with home prices rising by 9.5% in the past year. Low mortgage rates and high demand are driving the market, but supply constraints are causing affordability issues for many potential buyers.

4. In international news, tensions are rising between the US and China over trade disputes and human rights issues. The US announced new sanctions on Chinese officials, prompting retaliatory measures from China and raising concerns about the future of the relationship between the two countries. 1. The stock market experienced a sharp decline today, with the Dow Jones dropping 500 points. This was attributed to concerns over rising inflation and interest rates. Tech stocks were hit particularly hard, with companies like Apple and Amazon seeing significant losses.

2. In other news, the latest unemployment numbers were released, showing a slight increase in jobless claims. The report indicated that 750,000 people filed for unemployment benefits last week, slightly higher than expected. Economists are closely monitoring the job market as the recovery from the pandemic continues.

3. A new study revealed that 30% of Americans have experienced some form of financial hardship due to the ongoing COVID-19 pandemic. The research found that many individuals have had to dip into their savings or take on additional debt to make ends meet. The findings underscore the economic impact of the crisis.

4. On a more positive note, retail sales surged last month, surpassing expectations and signaling a strong consumer demand. The report showed a 5.3% increase in retail sales, driven by a boost in spending on clothing, electronics, and dining. This uptick in consumer activity is seen as a positive sign for the economy. 1. The stock market reached record highs today with the S&P 500 closing at 4,500 points, a new milestone in the ongoing bull market. Investors are optimistic about the economy’s recovery and strong corporate earnings reports driving the surge.

2. A new study from the CDC reveals that the Delta variant is now responsible for over 90% of COVID-19 cases in the United States. This highly contagious strain is causing a surge in hospitalizations, particularly among unvaccinated individuals. Health officials are urging the public to get vaccinated to curb the spread.

3. In a landmark decision, the Supreme Court ruled in favor of upholding a controversial Texas law banning most abortions after six weeks of pregnancy. The 5-4 decision has sparked nationwide debate over reproductive rights and has the potential to impact similar laws in other states.

4. The United Nations released a report highlighting the urgent need for global action to combat climate change. The report warns of devastating consequences if immediate steps are not taken to reduce greenhouse gas emissions and limit global warming. World leaders are being called upon to prioritize sustainability and environmental protection. 1. Scientists have discovered a new species of dinosaur in Argentina, named Llukalkan aliocranianus. This carnivorous dinosaur had sharp teeth and a unique skull structure, providing new insights into the diversity of dinosaurs in the Late Cretaceous period.

2. A recent study found that nearly 40% of Americans have experienced a decrease in income during the COVID-19 pandemic. The study also revealed that lower-income households were disproportionately affected, with 51% reporting a loss of income compared to 35% of higher-income households.

3. The United Nations reported that global food prices have reached their highest level in almost seven years, driven by factors such as extreme weather events and supply chain disruptions. The price of food commodities rose by 40% in 2020, posing a significant challenge to food security worldwide.



Read more at GlobeNewswire:: CNH Industrial N.V. Reports Fourth Quarter and Full Year