{"id":1018567,"date":"2026-11-09T06:35:56","date_gmt":"2026-11-09T11:35:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cnh-industrial-n-v-reports-third-quarter-2026-results\/"},"modified":"2026-11-09T06:35:56","modified_gmt":"2026-11-09T11:35:56","slug":"cnh-industrial-n-v-reports-third-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cnh-industrial-n-v-reports-third-quarter-2026-results\/","title":{"rendered":"CNH Industrial N.V. Reports Third Quarter 2026 Results"},"content":{"rendered":"
\n

Consolidated revenues for the third quarter of 2026 were $4.4 billion, approximately flat year over year<\/p>\n

Reported Net income was $35 million, including a $156 million non-cash charge to establish a valuation allowance against deferred tax assets; Adjusted Net income(1)<\/sup> was $205 million, compared with $109 million in the prior-year quarter<\/p>\n

Third quarter diluted EPS of $0.02 and adjusted diluted EPS(1)<\/sup> of $0.16<\/p>\n

Full year guidance updated with expected IEEPA tariff refund impacts net of one-off uses<\/p>\n

Announced earlier today an agreement with Kobelco regarding CNH Construction business<\/p>\n

\n Basildon, UK – November 9, 2026 – CNH Industrial N.V. (NYSE: CNH)<\/strong> reported Net income for the three months ended September 30, 2026, of $35 million, or $0.02 per basic and diluted share, compared with Net income of $67 million, or $0.06 per basic and diluted share, for the three months ended September 30, 2025. Adjusted Net income(1)<\/sup> for the third quarter of 2026 was $205 million, compared with $109 million in the third quarter of 2025. The 2026 results include $109 million in pre-tax IEEPA tariff refunds recognized during the quarter.<\/p>\n

Consolidated revenues for the third quarter of 2026 were $4.35 billion, and Net Sales of Industrial Activities were $3.68 billion, both essentially in line with the third quarter of 2025.<\/p>\n

Net cash provided by operating activities was $686 million, and Free cash flow used in Industrial Activities was $10 million in Q3 2026.<\/p>\n

Income tax expense was $204 million ($1 million in Q3 2025) with an effective tax rate (\u201cETR\u201d) of 89.9% (2.0% in Q3 2025). The adjusted ETR(1) <\/sup>was 20.6% for the third quarter of 2026 (14.0% in Q3 2025). Results for the third quarter of 2026 included a $156 million non-cash valuation allowance charge against Financial Services\u2019 deferred tax assets in Brazil, which adversely impacted reported Net income and the ETR for the quarter.<\/p>\n

\u201cThe combination of our third quarter results and our agreement with Kobelco regarding our Construction Equipment business reflect clear progress in the execution of our strategy,\u201d said Gerrit Marx, Chief Executive Officer of CNH. \u201cStronger quality performance, supply chain focus, and operational efficiencies reflect disciplined execution in a challenging market environment, reinforcing our underlying business as we track our 2030 long-term value creation targets. We reinvested approximately 35% of tariff refunds received in the quarter in selective time-limited one-time efforts to clear aged inventory and accelerate our transformation. Our Agriculture segment used almost half of its refunds received in Q3 and will have reinvested over 90% by year end in discrete time-limited priorities. Although current conditions in EMEA and Brazil remain volatile, improving cycle indicators in North America reinforce our confidence in the path ahead.\u201d<\/p>\n

Marx continued, \u201cWe continue our rigorous execution, prudent production planning, and building a stronger, more competitive CNH for the cycle dynamics ahead. CNH\u2019s agreement with Kobelco follows a deliberate process to strengthen our construction business and sharpen our focus on our agriculture business. The transaction positions CNH as the largest pure-play agriculture machinery OEM, with the ability to invest organically and inorganically as the agriculture industry moves toward recovery.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n 2026 Third Quarter Results
<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n US-GAAP<\/strong>
\n
\n
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars, except per share data)<\/td>\n\n Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Consolidated revenues<\/td>\n4,354<\/td>\n\u00a0<\/td>\n4,399<\/td>\n\u00a0<\/td>\n(1)%<\/td>\n\u00a0<\/td>\n(1)%<\/td>\n<\/tr>\n
of which Net sales of Industrial Activities<\/td>\n3,684<\/td>\n\u00a0<\/td>\n3,702<\/td>\n\u00a0<\/td>\n\u2014%<\/td>\n\u00a0<\/td>\n(1)%<\/td>\n<\/tr>\n
Net income<\/td>\n35<\/td>\n\u00a0<\/td>\n67<\/td>\n\u00a0<\/td>\n(48)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted EPS<\/td>\n0.02<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n(0.04)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flow provided by operating activities<\/td>\n686<\/td>\n\u00a0<\/td>\n659<\/td>\n\u00a0<\/td>\n+27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n NON-GAAP(1)<\/sup><\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars, except per share data)<\/td>\n\n Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT of Industrial Activities<\/td>\n202<\/td>\n\u00a0<\/td>\n104<\/td>\n\u00a0<\/td>\n+94%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT Margin of Industrial Activities<\/td>\n5.5%<\/td>\n\u00a0<\/td>\n2.8%<\/td>\n\u00a0<\/td>\n+270 bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted Net income<\/td>\n205<\/td>\n\u00a0<\/td>\n109<\/td>\n\u00a0<\/td>\n+88%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted diluted EPS $<\/td>\n0.16<\/td>\n\u00a0<\/td>\n0.08<\/td>\n\u00a0<\/td>\n+0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Free cash flow used in Industrial Activities<\/td>\n(10)<\/td>\n\u00a0<\/td>\n(188)<\/td>\n\u00a0<\/td>\n+178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Agriculture<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n\u00a0<\/td>\n2,907<\/td>\n\u00a0<\/td>\n2,963<\/td>\n\u00a0<\/td>\n(2)%<\/td>\n\u00a0<\/td>\n(2)%<\/td>\n<\/tr>\n
Adjusted EBIT<\/td>\n\u00a0<\/td>\n173<\/td>\n\u00a0<\/td>\n137<\/td>\n\u00a0<\/td>\n+26%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT margin(1)<\/sup><\/td>\n\u00a0<\/td>\n6.0%<\/td>\n\u00a0<\/td>\n4.6%<\/td>\n\u00a0<\/td>\n+140 bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

In North America, third quarter industry sales volume was down 12% year-over-year for tractors under 140 HP and down 5% for tractors over 140 HP; combines were down 13%. In Europe, Middle East and Africa (“EMEA”), tractor and combine demand were down 4% and 3%, respectively. South America saw tractor and combine demand decline 22% and 19%, respectively. In Asia Pacific, tractor demand decreased 4%, while combine demand increased 76%.<\/p>\n

Agriculture net sales decreased 2% to $2.9\u00a0billion in the quarter, driven by lower volumes in South America and EMEA, partially offset by growth in Asia Pacific and by favorable price realization.<\/p>\n

Agriculture adjusted EBIT increased to $173\u00a0million from $137\u00a0million in Q3 2025, and adjusted margin increased 140 basis points to 6.0%. The improvement primarily reflects IEEPA tariff refunds recognized during the quarter and better quality-related costs, partially offset by lower volumes in South America and EMEA.<\/p>\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Construction<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n\u00a0<\/td>\n777<\/td>\n\u00a0<\/td>\n739<\/td>\n\u00a0<\/td>\n+5%<\/td>\n\u00a0<\/td>\n+5%<\/td>\n<\/tr>\n
Adjusted EBIT<\/td>\n\u00a0<\/td>\n65<\/td>\n\u00a0<\/td>\n14<\/td>\n\u00a0<\/td>\n+364%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT margin(1)<\/sup><\/td>\n\u00a0<\/td>\n8.4%<\/td>\n\u00a0<\/td>\n1.9%<\/td>\n\u00a0<\/td>\n+650 bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Global industry sales volume for construction equipment increased 13% year-over-year in the third quarter for Heavy equipment and 6% for Light equipment. Aggregated demand increased 10% in North America, 5% in EMEA, 14% in South America, and 10% in Asia Pacific.<\/p>\n

Construction net sales increased 5% to $777\u00a0million in the quarter, driven by higher volumes in North America, partially offset by lower volumes in South America.<\/p>\n

Construction adjusted EBIT increased to $65\u00a0million from $14\u00a0million in Q3 2025, primarily reflecting the benefit of IEEPA tariff refunds recognized during the quarter and lower SG&A expenses, partially offset by lower volumes in South America.<\/p>\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Financial Services<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Total Revenues<\/td>\n\u00a0<\/td>\n665<\/td>\n\u00a0<\/td>\n684<\/td>\n\u00a0<\/td>\n(3)%<\/td>\n\u00a0<\/td>\n(4)%<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n(77)<\/td>\n\u00a0<\/td>\n47<\/td>\n\u00a0<\/td>\n(264)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted Net income(1)<\/sup><\/td>\n\u00a0<\/td>\n79<\/td>\n\u00a0<\/td>\n46<\/td>\n\u00a0<\/td>\n+72%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity at quarter-end<\/td>\n\u00a0<\/td>\n2,756<\/td>\n\u00a0<\/td>\n2,896<\/td>\n\u00a0<\/td>\n(140)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retail loan originations<\/td>\n\u00a0<\/td>\n2,483<\/td>\n\u00a0<\/td>\n2,657<\/td>\n\u00a0<\/td>\n(174)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Financial Services revenues decreased 3% in the quarter, mainly due to lower volumes in South America and North America and lower yields in most regions. The decrease was partially offset by favorable currency translation and higher used equipment sales driven by increased operating lease maturities and early payoffs.<\/p>\n

Financial Services recorded a net loss of $77\u00a0million, compared with net income of $47 million in Q3 2025. The current quarter results primarily reflected a $156 million non-cash valuation allowance charge against deferred tax assets in Brazil, unfavorable currency translation impacts, and lower volumes in South America and North America, partially offset by lower risk costs in South America. Adjusted Net income, which excludes the valuation allowance charge, increased to $79\u00a0million from $46\u00a0million in Q3 2025.<\/p>\n

The managed portfolio (including unconsolidated joint ventures) was $27.8\u00a0billion as of September\u00a030, 2026 (of which retail was 70% and wholesale was 30%), down $0.7\u00a0billion compared to September\u00a030, 2025 (down $0.7\u00a0billion on a constant currency basis(2)<\/sup>).<\/p>\n

As of September 30, 2026, the receivable balance greater than 30 days past due, as a percentage of receivables, was 4.1% (3.5% as of September 30, 2025), due to economic factors impacting farmers, specifically in South America.\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Results for the Nine Months Ended September 30, 2026
<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n US-GAAP<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n YTD Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n YTD Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Consolidated revenues<\/td>\n\u00a0<\/td>\n12,983<\/td>\n\u00a0<\/td>\n12,938<\/td>\n\u00a0<\/td>\n\u2014%<\/td>\n\u00a0<\/td>\n(2)%<\/td>\n<\/tr>\n
of which Net sales of Industrial Activities<\/td>\n\u00a0<\/td>\n10,997<\/td>\n\u00a0<\/td>\n10,895<\/td>\n\u00a0<\/td>\n+1%<\/td>\n\u00a0<\/td>\n(1)%<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n186<\/td>\n\u00a0<\/td>\n416<\/td>\n\u00a0<\/td>\n(55)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted EPS $<\/td>\n\u00a0<\/td>\n0.14<\/td>\n\u00a0<\/td>\n0.34<\/td>\n\u00a0<\/td>\n(0.20)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flow provided by operating activities<\/td>\n\u00a0<\/td>\n866<\/td>\n\u00a0<\/td>\n1,593<\/td>\n\u00a0<\/td>\n(727)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n NON-GAAP(1)<\/sup><\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n YTD Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n YTD Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT of Industrial Activities<\/td>\n\u00a0<\/td>\n324<\/td>\n\u00a0<\/td>\n429<\/td>\n\u00a0<\/td>\n(24)%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT Margin of Industrial Activities<\/td>\n\u00a0<\/td>\n2.9%<\/td>\n\u00a0<\/td>\n3.9%<\/td>\n\u00a0<\/td>\n(100) bps<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted Net income<\/td>\n\u00a0<\/td>\n387<\/td>\n\u00a0<\/td>\n457<\/td>\n\u00a0<\/td>\n(15)%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted diluted EPS $<\/td>\n\u00a0<\/td>\n0.30<\/td>\n\u00a0<\/td>\n0.36<\/td>\n\u00a0<\/td>\n(0.06)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Free cash flow used in Industrial Activities<\/td>\n\u00a0<\/td>\n(449)<\/td>\n\u00a0<\/td>\n(304)<\/td>\n\u00a0<\/td>\n(145)<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Agriculture<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n YTD Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n YTD Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n\u00a0<\/td>\n8,780<\/td>\n\u00a0<\/td>\n8,792<\/td>\n\u00a0<\/td>\n\u2014%<\/td>\n\u00a0<\/td>\n(2)%<\/td>\n<\/tr>\n
Adjusted EBIT<\/td>\n\u00a0<\/td>\n370<\/td>\n\u00a0<\/td>\n539<\/td>\n\u00a0<\/td>\n(31)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT margin(1)<\/sup><\/td>\n\u00a0<\/td>\n4.2%<\/td>\n\u00a0<\/td>\n6.1%<\/td>\n\u00a0<\/td>\n(190) bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Construction<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n YTD Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n YTD Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Net sales<\/td>\n\u00a0<\/td>\n2,217<\/td>\n\u00a0<\/td>\n2,103<\/td>\n\u00a0<\/td>\n+5%<\/td>\n\u00a0<\/td>\n+4%<\/td>\n<\/tr>\n
Adjusted EBIT<\/td>\n\u00a0<\/td>\n52<\/td>\n\u00a0<\/td>\n63<\/td>\n\u00a0<\/td>\n(17)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBIT margin(1)<\/sup><\/td>\n\u00a0<\/td>\n2.3%<\/td>\n\u00a0<\/td>\n3.0%<\/td>\n\u00a0<\/td>\n(70) bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Financial Services<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(All amounts in millions of dollars)<\/td>\n\u00a0<\/td>\n\n YTD Q3 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\n YTD Q3 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Change at c.c.(2)<\/sup><\/strong>\n <\/td>\n<\/tr>\n
Total Revenues<\/td>\n\u00a0<\/td>\n1,967<\/td>\n\u00a0<\/td>\n2,020<\/td>\n\u00a0<\/td>\n(3)%<\/td>\n\u00a0<\/td>\n(6)%<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n68<\/td>\n\u00a0<\/td>\n224<\/td>\n\u00a0<\/td>\n(70)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted Net income(1)<\/sup><\/td>\n\u00a0<\/td>\n224<\/td>\n\u00a0<\/td>\n223<\/td>\n\u00a0<\/td>\n\u2014%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n
2026 Outlook<\/u>
\n <\/strong>\n <\/p>\n

CNH is in the process of applying for and receiving refunds of IEEPA tariffs previously paid. The refunds are being recognized as received, and CNH will reinvest nearly all of them into selective and time-limited priorities to accelerate our transformation. CNH forecasts a full year net refund benefit of only $5 million in Agriculture ($32 million in Q3 2026) after reinvesting in some discretionary programs:<\/p>\n