The following is an extract from the press release “CNH Industrial N.V. Reports Third Quarter 2026 Results”.
The complete press release can be consulted in the accompanying PDF on the CNH Newsroom.
- Consolidated revenues for the third quarter of 2026 were $4.4 billion, approximately flat year over year
- 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) was $205 million, compared with $109 million in the prior-year quarter
- Third quarter diluted EPS of $0.02 and adjusted diluted EPS(1) of $0.16
- Full year guidance updated with expected IEEPA tariff refund impacts net of one-off uses
- Announced earlier today an agreement with Kobelco regarding CNH Construction business
CNH Industrial N.V. (NYSE: CNH) 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) 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.
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.
Net cash provided by operating activities was $686 million, and Free cash flow used in Industrial Activities was $10 million in Q3 2026.
Income tax expense was $204 million ($1 million in Q3 2025) with an effective tax rate (“ETR”) of 89.9% (2.0% in Q3 2025). The adjusted ETR(1) 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’ deferred tax assets in Brazil, which adversely impacted reported Net income and the ETR for the quarter.
“The 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,” said Gerrit Marx, Chief Executive Officer of CNH. “Stronger 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.”
Marx continued, “We continue our rigorous execution, prudent production planning, and building a stronger, more competitive CNH for the cycle dynamics ahead. CNH’s 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.”
Basildon, UK — November 9, 2026