Agriculture net sales decreased for the quarter by 20% to $3.91 billion, primarily due to lower shipment volumes on decreased industry demand and dealer inventory requirements across all regions.
CNH Industrial N.V. (NYSE: CNHI) reported results for the three months ended March 31, 2024, with net income of $402 million compared with net income of $486 million for the three months ended March 31, 2023.
CNH Global easily surpassed analysts estimates for its first-quarter earnings, which continues to reinforce the strength of agriculture fundamentals particularly in North America.
While CNH surprised many analysts with its fourth quarter and year-end earnings report on January 25, its financial outlook for 2010 remains hazy at best.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.