2024 was not a banner year for ag equipment manufacturers. The parent company behind Case IH and New Holland, CNH Industrial, released its full-year report on Feb. 4, showing that company was not spared from the significant global slowdown in equipment sales. But the firm did make a profit nonetheless.
A fourth-quarter earning of $176 million brought full-year net income to just over $1.25 billion. But that still meant consolidated revenues were down 20 per cent from 2023.
For 2025, the company’s outlook projects a further reduction in its ag equipment division off 13 to 18 per cent, and between five and 10 per cent in its construction offerings. — S.G.
