CNH Industrial Reports $3.826 Billion in Revenues for Q1 2026, Net Income Drops to $7 Million

CNH Industrial N.V. reported total revenues of $3.826 billion for the first quarter of 2026, a slight decrease of 0.1% compared to $3.828 billion in the same period of 2025. The company's net sales were $3.170 billion, down marginally from $3.172 billion year-over-year. The financial services segment contributed $646 million to revenues, reflecting a 0.8% decline from $651 million in the previous year. The company's net income attributable to CNH Industrial N.V. was $7 million, a significant drop from $131 million in the first quarter of 2025, resulting in basic and diluted earnings per share of $0.01, down from $0.10.

The company's cost of goods sold increased to $2.605 billion from $2.569 billion, leading to a rise in the cost of goods sold as a percentage of net sales to 82.2% from 81.0%. Selling, general, and administrative expenses rose to $465 million, up from $386 million, primarily due to increased credit risk provisions and higher labor costs. Research and development expenses also increased to $232 million from $184 million, driven by investments in new products and variable compensation. The company incurred restructuring expenses of $4 million, down from $6 million in the prior year.

In terms of operational metrics, CNH's agriculture segment saw net sales of $2.596 billion, a 0.6% increase from $2.581 billion, while the construction segment reported a decline in net sales to $574 million from $591 million, a decrease of 2.9%. The company’s total assets decreased to $42.038 billion from $42.747 billion at the end of 2025, with cash and cash equivalents falling to $1.604 billion from $2.578 billion. Total debt also decreased to $25.904 billion from $26.762 billion, primarily due to a reduction in asset-backed debt.

Looking ahead, CNH Industrial anticipates continued challenges in the agricultural equipment market, particularly in North America, due to low demand and ongoing tariff pressures. The company remains focused on maintaining price discipline, managing production and inventory, and investing in precision technology. Despite the current downturn, management views these trends as cyclical rather than structural, indicating a potential for recovery as market conditions improve. The company is committed to enhancing operational efficiency and reducing costs while navigating the complexities of the global market landscape.