CNH Industrial Q3 revenue beats estimates on APAC demand, announces JV with Kobelco
CNH•CNH Industrial reported Q3 revenue of $4.40 billion, above the $4.16 billion estimate, and adjusted EPS of $0.16, above the $0.10 estimate. It raised its 2026 adjusted diluted EPS outlook to $0.44-$0.48 from $0.41-$0.46 and announced a joint venture agreement with Kobelco for its Construction Equipment business.
1. Quarterly results
Q3 revenue was flat year over year at $4.40 billion, beating analyst expectations of $4.16 billion. Adjusted EPS rose to $0.16, above the $0.10 estimate; adjusted net income was $205 million, compared with an estimate of $129 million. Net income was $35 million and EPS was $0.02.
2. Outlook and joint venture
CNH Industrial announced a joint venture agreement with Kobelco for its Construction Equipment business. The company now expects 2026 adjusted diluted EPS of $0.44 to $0.48, up from its prior forecast of $0.41 to $0.46. It expects agriculture segment net sales to be about flat year over year and construction segment net sales to rise 8% to 10%.
3. Regional demand and results
Lower agriculture volumes in South America and EMEA were offset by growth in Asia Pacific and favorable pricing. Higher construction equipment volumes in North America supported construction segment sales. The company said Q3 results benefited from IEEPA tariff refunds recognized during the quarter.
