CNH Industrial Reports Minor Drop in Q4 Revenue; Launches $500M Share Repurchase Program

CNH Industrial NV CNHI has disclosed its earnings for the fourth quarter of the fiscal year 2023, revealing a slight downturn in its revenue figures. The international manufacturer, known for a broad range of machinery and vehicles including agricultural and construction equipment, as well as trucks and specialty vehicles, reported revenues of $6.79 billion. This indicates a 2% decline from the previous year's figures and a 4% decrease on a constant currency basis. Despite the decrease, CNH Industrial managed to surpass the market's consensus estimate, which was set at $6.66 billion.

Performance of Industrial Segments

The company's Industrial Activities segment, which is chiefly responsible for the revenue generated, saw net sales decrease by 5% year-over-year to $6.02 billion. According to CNH Industrial, this decline can largely be attributed to a combination of lower volumes and a change in product mix, particularly in the Agriculture sector. Nonetheless, it is worth noting that CNH Industrial operates in various regions across the globe, including North America, Europe, South America, and other international markets, and is based out of London, United Kingdom.

Share Buyback Initiative

In the wake of the revenue report, CNH Industrial CNHI has announced an additional share buyback program valued at $500 million. This strategic move is aimed at returning value to shareholders and reflects the company's confidence in its financial stability and future prospects. It also underscores CNHI's ongoing commitment to enhancing shareholder value.

CNHIndustrial, Earnings, ShareBuyback