CNH Industrial Guides FY2026 EPS to $0.35–0.45, Ag Sales to Drop 5%
CNH Industrial reported Q4 fiscal 2025 adjusted EPS of $0.19, beating consensus, on 6% revenue growth to $5.16 billion and $945 million operating cash flow, but generated $817 million in free cash flow absorption. The company sees FY2026 adjusted EPS of $0.35–0.45 versus $0.54 consensus, with agriculture sales down 5%.
1. Fourth-Quarter Results
CNH Industrial delivered adjusted EPS of $0.19 in Q4 fiscal 2025 versus a 10-cent consensus, supported by a 6% year-over-year revenue increase to $5.16 billion. The quarter generated $945 million in operating cash flow but recorded $817 million of free cash flow absorption due to inventory and working capital movements.
2. Segment Performance
Agricultural net sales rose 5% to $3.60 billion on pricing gains and foreign exchange tailwinds, while Construction net sales climbed 19% to $853 million driven by higher shipment volumes and price realization in North America. Financial Services revenue declined 6% to $700 million amid lower yields, reduced average portfolio balances outside APAC and weaker equipment financing demand.
3. FY2026 Outlook and Guidance
CNH Industrial forecasts FY2026 adjusted EPS of $0.35–0.45 versus a $0.54 consensus and expects industrial free cash flow of $150–350 million. The company projects flat construction net sales, a 5% drop in agriculture net sales, a 5% fall in global retail demand to cyclical lows and anticipates a market recovery in 2027.