Overview
- The company lowered its 2025 adjusted profit guidance to $0.44–$0.50 per share from $0.50–$0.70.
- Shares fell more than 12% in premarket trading after the guidance cut and results.
- CNH intentionally reduced tractor and combine output and produced fewer units year over year to curb dealer inventory.
- Third-quarter revenue reached $4.39 billion versus a $3.91 billion consensus, while adjusted EPS of $0.08 missed the $0.13 estimate.
- Management said the August expansion of U.S. steel and aluminum tariffs added cost exposure, prompting supply-chain changes, inventory drawdowns and price adjustments.