$CNH · CNH Industrial N.V.
CNH Industrial N.V. filed its Q3 2026 10-Q. Total revenues were $4.354B, down 1.0% YoY from $4.399B. Net income attributable to CNH fell to $30M ($0.02 diluted EPS) from $80M ($0.06) a year ago, largely on a $204M income tax charge versus $1M a year earlier. Nine-month net income attributable to CNH was $175M ($0.14/share) versus $424M ($0.34/share) in 2025.
- Q3 net income attributable to CNH fell 62.5% to $30M from $80M a year earlier.
- Q3 income tax expense jumped to $204M from $1M in the prior-year quarter.
- Total Q3 revenue declined 1.0% YoY to $4.354B.
- Nine-month net income attributable to CNH dropped to $175M from $424M.
- Agriculture adjusted EBIT rose to $173M in Q3, but nine-month figure fell to $370M from $539M.
Shares rose 11.07% to $12.84 in the regular session, up 0.94% since filing, suggesting the market looked past the tax-driven earnings decline.
A $204M tax charge crushed quarterly profit despite stable revenue, while rising credit-loss reserves signal weakening farm-equipment financing quality.
CNH's Agriculture segment revenue fell 1.9% YoY while Construction grew 5.1%, reflecting mixed end-market demand across farm and construction equipment.
Credit-loss reserves rose $53M for Brazil (crop prices, flooding, drought) and $23M for North America (higher delinquencies), signaling deteriorating retail financing asset quality.