CNH Industrial N.V. reported a decline in financial performance for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. For the three months ended September 30, 2025, total revenues were $4.399 billion, a decrease of 5.5% from $4.654 billion in the same period of 2024. Net sales fell to $3.702 billion, down 7.4% year-over-year, primarily due to lower shipment volumes driven by decreased industry demand and ongoing channel destocking. The company's net income for the quarter was $67 million, significantly lower than the $310 million reported in the prior year, reflecting a $49 million impairment charge related to research and development.
In the nine-month period ending September 30, 2025, CNH's total revenues decreased by 13.5% to $12.938 billion from $14.960 billion in 2024. Net sales for this period were $10.895 billion, down 15.7% year-over-year. The decline was attributed to reduced shipment volumes and continued destocking across channels. Net income for the nine months was $416 million, compared to $1.083 billion in the same period last year, impacted by higher costs and lower sales volumes.
Operationally, CNH's Agriculture segment reported net sales of $2.963 billion for the third quarter, down 10.5% from $3.310 billion in 2024, while the Construction segment saw a 7.6% increase in sales to $739 million. The Financial Services segment generated revenues of $684 million, up 3.8% year-over-year. The company’s Adjusted EBIT for Industrial Activities was $104 million for the third quarter, a significant drop from $336 million in the previous year, primarily due to lower shipment volumes and increased selling, general, and administrative expenses.
As of September 30, 2025, CNH's total assets increased to $43.258 billion from $42.933 billion at the end of 2024, with cash and cash equivalents at $2.303 billion, down from $3.191 billion. The company’s total debt rose to $27.128 billion, compared to $26.882 billion at the end of the previous year. The filing also noted a material weakness in internal controls related to inventory management, which the company is actively working to remediate.
Looking ahead, CNH anticipates continued challenges due to global economic conditions, including geopolitical events and fluctuating commodity prices, which may impact demand for its products. The company is focused on improving operational efficiencies and managing costs while navigating these market uncertainties.
About CNH Industrial N.V.
CNH Industrial N.V. is a global leader in designing, manufacturing, and selling agricultural and construction equipment. Its core segments include Agriculture, Construction, and Financial Services, serving customers worldwide through a dealer network. The company emphasizes innovation, precision technology, and sustainable solutions, offering machinery, parts, and financing services to enhance productivity and efficiency in farming and construction industries.
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