UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36085 CNH INDUSTRIAL N.V. (Exact name of registrant as specified in its charter) Netherlands 98-1125413 | | | Name of each exchange on which | ...

Group 1 - The company has been making similar statements for five years, but there is limited evidence of progress, leading to skepticism about its future direction [1] - The article expresses a critical viewpoint regarding the company's ability to deliver on its promises over an extended period [1] Group 2 - No specific financial data or performance metrics are provided in the content [2]

Core Insights - CNH has achieved a ranking in the top 1% of companies in S&P Global's 2026 Sustainability Yearbook, with a score of 83/100, evaluated among over 9,200 organizations across 62 industries [1][2][3] - This recognition follows CNH's inclusion in S&P Global's Dow Jones Sustainability World and North America Indices, where it secured a joint first place in the Machinery and Electrical Equipment Industry category [2][3] - The Chief Sustainability Officer of CNH emphasized that this recognition reflects the company's impactful sustainability strategy, particularly in agriculture, where their technologies contribute to healthier soils and biodiversity [3] Sustainability Performance - CNH received an A Climate score and an A- Water score from CDP, highlighting its commitment to environmental sustainability [4] - The company has progressed to the top 1% from being in the top 5% for two consecutive years, indicating significant improvement in sustainability performance [7] Company Overview - CNH Industrial is a global leader in equipment, technology, and services, focusing on innovation, sustainability, and productivity [5][6] - The company operates various brands, including Case IH and New Holland for agriculture, and CASE and New Holland Construction Equipment for construction, providing a comprehensive range of products and digital technologies [5] - With over 35,000 employees, CNH promotes a diverse and inclusive workplace aimed at empowering customers and fostering a better world [6]

Core Insights - CNH has achieved a ranking in the top 1% of companies in S&P Global's 2026 Sustainability Yearbook, marking its first year in this elite category after two consecutive years in the top 5% [1] - The company scored 83 out of 100 in the S&P Global 2025 Corporate Sustainability Assessment, which evaluated over 9,200 organizations across 62 industries [1] - CNH is one of only two companies from its industry group to be included in the top 1% [1] Sustainability Recognition - This recognition follows CNH's inclusion in S&P Global's Dow Jones Sustainability World and North America Indices, where it received a joint first place ranking in the Machinery and Electrical Equipment Industry category [2] - CNH was awarded an A Climate score and an A- Water score from CDP, a global non-profit organization focused on environmental disclosure [4] Strategic Impact - The Chief Sustainability Officer of CNH emphasized that the company's sustainability strategy is making a significant impact in agriculture, particularly in enhancing soil health, protecting biodiversity, and improving resource efficiency [3]

Core Insights - CNH Industrial reported fourth-quarter 2025 adjusted earnings per share (EPS) of 19 cents, an increase from 15 cents in the prior-year quarter, surpassing the Zacks Consensus Estimate of 11 cents [1] - Consolidated revenues rose 5.8% year over year to $5.16 billion, exceeding the Zacks Consensus Estimate of $5.02 billion [1] Segmental Performance - Agriculture segment net sales increased 5% year over year to $3.6 billion, driven by favorable price realization and positive foreign exchange impacts, beating the estimate of $3.41 billion [2] - Adjusted EBIT for the Agriculture segment was $233 million, down 5% year over year due to lower volumes and higher costs, but still above the estimate of $172.6 million; adjusted EBIT margin decreased to 6.5% from 7.2% [2] - Construction segment sales rose 19% year over year to $853 million, attributed to higher volume and favorable price realization in North America, surpassing the estimate of $810.3 million [3] - Adjusted EBIT for the Construction segment was $5 million, down 72% year over year due to increased production costs, with adjusted EBIT margin decreasing to 0.6% from 2.5% [3] - Financial Services segment revenues fell 6% to $700 million, missing the estimate of $770.4 million, while net income increased from $92 million to $109 million year over year [4] Financial Details - As of December 31, 2025, CNH Industrial had cash and cash equivalents of $2.58 billion, down from $3.19 billion a year earlier [5] - Total debt was $26.76 billion, a slight decrease from $26.88 billion as of December 31, 2024 [5] - Net cash provided by operating activities was $945 million, compared to $1.69 billion in the prior year [5] - Free cash outflow from industrial activities was $817 million, slightly improved from $848 million in the fourth quarter of 2024 [5] 2026 Guidance - For 2026, Agriculture sales are expected to decrease and remain flat at 5% year over year, with adjusted EBIT margin projected between 4.5-5.5% [6] - Construction segment sales are expected to remain flat year over year, with adjusted EBIT margin anticipated in the range of 1-2% [6] - Free cash flow from industrial activities is expected to be between $150-$350 million, with adjusted EPS projected between 35 cents and 45 cents, down from 55 cents in 2025 [7] Zacks Rank & Key Picks - CNH currently holds a Zacks Rank 4 (Sell) [8] - Other better-ranked stocks in the industrial product space include Kawasaki Heavy Industries, Kennametal, and Proto Labs, each with a Zacks Rank 1 (Strong Buy) [10]

Core Insights - CNH Industrial reported a fourth-quarter revenue of $5.2 billion, reflecting a 6% increase year-over-year, with agricultural segment sales rising by 5% and construction sales increasing by 19% [5][6] - The company anticipates 2026 to be a challenging year, forecasting a decline in global industry retail demand and expecting Agriculture net sales to be flat to down 5% compared to 2025 [11][13] Agriculture Segment Performance - The adjusted EBIT margin for the Agriculture segment was 6.5%, down from 7.2% in the prior-year quarter, impacted by pricing pressures and increased SG&A costs [1] - Fourth-quarter net sales in Agriculture were approximately $3.6 billion, up 5% year-over-year, driven by favorable pricing and currency translation, although the adjusted gross margin decreased to 20% from 20.6% [2] - For the full year, consolidated revenues in Agriculture fell by 9%, with the EBIT margin affected by higher tariff costs and an unfavorable geographic mix [3] Construction Segment Performance - Construction net sales rose 19% to $853 million in the fourth quarter, primarily due to improved sales in North and South America, but the gross margin fell to 11.5% due to tariff impacts [7] - The EBIT margin for the construction segment was projected at 1% to 2% for 2026, reflecting the full-year impact of tariffs estimated to affect margins by around 500 basis points [14] Cost Management and Dealer Inventory - The company successfully removed $230 million in costs from the Agriculture segment in 2025, aiming for a cumulative savings target of $550 million by 2030 [8] - CNH reduced Agriculture dealer inventories by $200 million in Q4, achieving a total reduction of about $800 million for the year, slightly below the initial $1 billion target [9] Future Outlook - The company expects Agriculture EBIT margin in 2026 to be between 4.5% and 5.5%, with cost initiatives projected to improve margins by 50 to 75 basis points, although tariff headwinds are expected to increase [13] - For the first quarter of 2026, Agriculture sales are anticipated to decline sequentially in the low 30% range due to a sales pull-forward from Q4 [16] Capital Allocation and Strategic Initiatives - CNH reiterated its capital allocation priorities, including reinvesting in the business and returning cash to shareholders, with $432 million returned through dividends and share repurchases in the full year [17] - The company plans to increase CapEx in 2026 to enhance manufacturing facilities and support strategic initiatives, including dealer enhancements [18] Partnership and Network Consolidation - Discussions have been restarted regarding potential partnerships for the construction business, with no immediate urgency for outcomes [19] - The company aims to consolidate its dealer network by reducing the number of first-level Ag dealer owners by about a third by 2030 while maintaining coverage [10]

CNH Industrial (NYSE:CNH) Q4 2025 Earnings call February 17, 2026 09:00 AM ET Company ParticipantsAngel Castillo - Executive Director and Head of U.S. Machinery and Construction Equity ResearchDavid Raso - Senior Managing Director and PartnerGerrit Marx - CEOJason Omerza - VP of Investor RelationsJim Nickolas - CFOKristen Owen - Managing DirectorPeter Kalemkerian - Equity Research AssociateTami Zakaria - Executive DirectorConference Call ParticipantsDaniela Costa - Managing Director and Equity Research Anal ...

Financial Data and Key Metrics Changes - Fourth quarter consolidated revenues were $5.2 billion, up 6% from Q4 of 2024, with adjusted net income at $246 million and adjusted EPS at $0.19, up from $0.15 in Q4 2024 [10][14] - For the full year 2025, consolidated revenues were down 9% year-over-year, while industrial sales decreased in double digits [11] - Industrial adjusted EBIT margin was 4.3% for 2025, primarily driven by higher tariff costs and unfavorable geographic mix [11][14] Business Line Data and Key Metrics Changes - Agriculture segment sales in Q4 were about $3.6 billion, up 5% year-over-year, with EMEA up 33% and North America down 10% [10][15] - Construction net sales in Q4 were up 19% year-over-year to $853 million, driven by better sales in North and South America [10][16] - Financial services segment net income in Q4 was $109 million, an 18% year-over-year increase [17] Market Data and Key Metrics Changes - North America is expected to see the largest decrease in large equipment industry retail demand, while EMEA is forecasted to show slight growth [28][30] - Global industry retail demand is projected to be around 80% of mid-cycle, down approximately 5% from 2025 levels [29][30] Company Strategy and Development Direction - The company strategy focuses on five key pillars: expanding product leadership, advancing tech integration, driving commercial excellence, operational excellence, and quality as a mindset [19] - A robust pipeline of new product launches is planned, including over 15 new tractor launches and 30 precision technology releases by the end of 2027 [19][20] - The company aims to improve agriculture EBIT margin to 16%-17% by 2030, despite tariff impacts [26] Management Comments on Operating Environment and Future Outlook - The management noted that commodity prices remain low, affecting farmers' ability to purchase equipment, and the trade environment is still uncertain [9][11] - The company expects 2026 to represent the trough of the cycle, with a focus on improving underlying profitability [30][32] - Management expressed confidence in North and South American markets delivering growth in revenue and profit pools as trade flows stabilize [11][30] Other Important Information - The company has been recognized for its sustainability efforts, ranking number one in its industry on S&P Global's Corporate Sustainability Assessment [12] - The company repurchased $45 million worth of stock in Q4 and returned $432 million to shareholders through dividends and share repurchases for the full year [18] Q&A Session Summary Question: Clarification on inventory situation and setup for 2027 - Management acknowledged a shortfall in inventory reduction targets, primarily due to Europe, and indicated that dealer destocking is largely accomplished [43][44] Question: EBIT bridge for 2026 - Management provided a breakdown of expected margin impacts, indicating a reduction in margin due to volumes and geographic mix, but improvements from pricing and operational efficiencies [48] Question: North America farmer sentiment and government initiatives - Management noted that farmer sentiment is currently low due to flat income projections and commodity prices, with ongoing discussions about potential government support [70][71] Question: Product launch pipeline and competitive environment in Europe - Management highlighted excitement around new mid-range tractors and combines, with positive feedback from farmers, while cautioning about the fragile market conditions in Europe [74][78]

CNH Industrial (NYSE:CNH) Q4 2025 Earnings call February 17, 2026 09:00 AM ET Speaker7I will now turn the call over to Jason Omerza, Vice President of Investor Relations. Sir, please go ahead.Speaker4Thank you, Kristen, and good morning, everyone. We would like to welcome you to CNH's fourth quarter earnings presentation for the period ending December 31st, 2025. This live webcast is copyrighted by CNH, and any recording, transmission, or other use of any portion of it without the written consent of CNH is ...

Q4 2025 FINANCIAL RESULTS February 17, 2026 SAFE HARBOR STATEMENT AND DISCLOSURES All statements other than statements of historical fact contained in this presentation including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and ...