CNH Q3 2025 Earnings
Reported Nov 7, 2025 at 6:39 AM ET · SEC Source
Q3 25 EPS
$0.08
MISS 41.48%
Est. $0.14
Q3 25 Revenue
$4.40B
BEAT +4.34%
Est. $4.22B
vs S&P Since Q3 25
-1.1%
TRAILING MARKET
CNH +8.2% vs S&P +9.3%
Market Reaction
Did CNH Beat Earnings? Q3 2025 Results
CNH Industrial delivered a mixed but broadly disappointing third quarter, with adjusted diluted EPS of $0.08 falling short of the $0.14 consensus estimate by 41.48%, even as revenues of $4.40 billion edged 4.34% above expectations despite sliding 5.5… Read more CNH Industrial delivered a mixed but broadly disappointing third quarter, with adjusted diluted EPS of $0.08 falling short of the $0.14 consensus estimate by 41.48%, even as revenues of $4.40 billion edged 4.34% above expectations despite sliding 5.5% year-over-year. The deepest damage came from the Agriculture segment, where net sales dropped 10% to $2.96 billion as North American demand weakness and persistent channel destocking compressed adjusted EBIT margin by 560 basis points to just 4.6%, with the pain compounded by a $49.00 million non-cash impairment charge tied to in-process R&D assets. Net income collapsed 78% to $67.00 million, reflecting the combined weight of lower volumes, unfavorable geographic mix, and incremental tariff headwinds the company expects to carry a net cost of $110.00 to $150.00 million for the full year. Looking ahead, CNH trimmed its adjusted diluted EPS guidance to $0.44 to $0.50, down from the prior $0.50 to $0.70 range, signaling that navigating this cyclical trough will extend well into the coming quarters.
Key Takeaways
- • Lower shipment volumes on decreased industry demand in North America
- • Channel inventory destocking reducing dealer inventory by $0.6B YTD
- • Tariff costs from August 2025 expansion of U.S. steel and aluminum tariffs
- • Unfavorable geographic mix shift from North America to EMEA in Agriculture
- • Favorable net price realization partially offsetting volume declines
- • Reduced production and warranty costs in Agriculture
- • Higher construction shipment volumes in North America and EMEA
- • Increased delinquencies in Brazil impacting Financial Services risk costs
CNH YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CNH Revenue by Segment
With YoY comparisons, source: SEC Filings
CNH Revenue by Geography
With YoY comparisons, source: SEC Filings
“While the current trade environment remains challenging for our farmers and builders, CNH continues to take decisive actions to navigate near-term headwinds. We are maintaining disciplined production levels, reducing channel inventories, investing in technology, and driving operational excellence. Our commitment to quality and innovation is unwavering, as demonstrated by recent product launches and industry recognition. Looking ahead, we remain focused on achieving our long-term strategic targets. I am confident that the steps we are taking will position CNH for renewed growth and success as market conditions improve.”
— Gerrit Marx, Q3 2025 Earnings Press Release
CNH Earnings Trends
CNH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CNH EPS Trend
Earnings per share: estimate vs actual
CNH Revenue Trend
Quarterly revenue: estimate vs actual
CNH Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.00 | $0.01 | +194.12% | $3.83B | -0.87% |
| Q4 25 BEAT FY | $0.11 | $0.19 | +74.79% | $5.16B | +5.52% |
| FY Full Year | — | $0.55 | — | $18.10B | — |
| Q3 25 MISS | $0.14 | $0.08 | -41.48% | $4.40B | +4.34% |
| Q2 25 BEAT | $0.14 | $0.17 | +20.57% | $4.71B | +4.58% |