Overview
- CNH cut its full-year adjusted profit forecast to $0.44–$0.50 per share from $0.50–$0.70, below the $0.59 LSEG consensus.
- Third-quarter revenue came in at $4.39 billion versus $3.91 billion expected, while adjusted EPS was $0.08 versus a $0.13 estimate.
- The company produced fewer tractors and combines than a year earlier to prevent excess inventory at dealers during muted demand.
- CNH said an August expansion of U.S. steel and aluminum tariffs raised its cost exposure, leading to supply-chain changes, inventory drawdowns and price adjustments.
- Shares fell more than 12% in premarket trading after the results and guidance cut.