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CNH Industrial N.V. (symbol: CNHI) is a global leader in the capital goods sector, renowned for its extensive industrial experience and a wide array of products. The company boasts a significant presence worldwide, with each of its brands being a major international force within their specific industrial sectors. CNH Industrial's brands include:
- Case IH, New Holland Agriculture, and Steyr for tractors and agricultural machinery
- Case and New Holland Construction for earth moving equipment
- Iveco for commercial vehicles
- Iveco Bus and Helieuz Bus for buses and coaches
- Iveco Astra for quarry and construction vehicles
- Magirus for firefighting vehicles
- Iveco Defence Vehicles for defence and civil protection
- FPT Industrial for engines and transmissions
Recently, CNH Industrial has achieved notable milestones. Case IH launched the new Axial-Flow Series 160 Automation in Brazil, incorporating advanced artificial intelligence for improved productivity. New Holland celebrated 60 years of its tractor factory in Basildon, England, by unveiling a special edition tractor and reinforcing its role as the Alternative Fuels Centre of Excellence. Furthermore, CASE presented an eco-friendly compact crawler tractor and a new wheel loader version at the M&T Expo 2024, emphasizing sustainability and efficiency.
Financially, CNH Industrial is robust, continuously investing in innovations and infrastructure, which is evident in the recent R$100 million investment in the Sorocaba plant in Brazil. The company also focuses on workforce training and technological advancements to maintain its competitive edge. Partnerships with local and international entities ensure that their products are always at the forefront of technology and efficiency.
In terms of environmental sustainability, CNH Industrial has made significant strides. The company supports World Environment Day and participates in initiatives to combat land degradation, desertification, and drought. The introduction of eco-friendly machinery, like the 100% electric mini excavators and the T6.180 Methane Power tractor, highlights their commitment to sustainability.
For more detailed information about CNH Industrial and its operations, visit their corporate website at www.cnhindustrial.com. For career opportunities, check their LinkedIn profile or the careers section on their website.
New Holland, a brand of CNH, has unveiled its new flagship CR10 combine harvester, following the preview of the CR11 model at Agritechnica. Both harvesters are built at New Holland's Centre of Excellence in Zedelgem, Belgium, and feature innovative technology to increase output, minimize losses, and reduce harvesting costs for large farming enterprises.
The CR10 is equipped with a 12.9-litre FPT Cursor 13 engine generating 635hp and a 16,000-litre grain tank. In comparison, the CR11 boasts a 15.9-litre FPT Cursor 16 engine producing 775hp and a 20,000-litre grain tank. Key features of both models include longer twin rotors and the new Twin-Clean cleaning system, designed to enhance output, sample quality, and loss minimization.
CNH Industrial N.V. (NYSE: CNHI) reported a 16% decline in Q2 2024 consolidated revenue to $5.49 billion due to lower industry demand. Diluted EPS dropped to $0.34 from $0.52 in Q2 2023, with adjusted diluted EPS at $0.38. Net income fell 38% year-over-year to $438 million. Net sales of Industrial Activities decreased 19% to $4.80 billion. Financial Services revenue increased 14% to $687 million.
Cash flow from operations was $379 million, with Industrial Free Cash Flow at $140 million. CNH returned $1.2 billion to shareholders in H1 2024 through dividends and share repurchases. The company updated its full-year guidance due to weaker market conditions, expecting adjusted diluted EPS between $1.30 and $1.40, down from previous guidance of $1.45 to $1.55.
Segment-wise, Agriculture net sales fell 20% to $3.91 billion, and Construction net sales decreased 16% to $890 million. The restructuring program is on track, aiming for a 10-15% reduction in SG&A expenses.
CNH Capital, the financial services arm of CNH, has launched 'Mission Education', a Corporate Social Responsibility (CSR) project aimed at improving educational outcomes for 240 underprivileged children in Gurugram, India. The initiative, in collaboration with the Smile Foundation, will support NeeV village learning centre by providing teaching materials, establishing a Foundational Literacy and Numeracy Lab, and focusing on sanitation and skills development.
This project expands on CNH's existing CSR efforts in India, which include Project Unnati offering scholarships for schoolchildren and ITI students, and Project Udaan supporting female engineering students. The company's New Holland brand initiated 'Mission Education' in 2016, benefiting 270 children to date.
CNH (NYSE: CNHI) has announced a new Global Leadership Team (GLT) to enhance delivery of strategic priorities for profitable long-term growth in the Agriculture segment. The Construction segment will operate as a distinct business unit with increased autonomy. Key appointments, effective August 1, include:
- Gerrit Marx as CEO, directly responsible for Agriculture
- Humayun Chishti as President, Construction
- Douglas MacLeod as President, Financial Services
- Regional heads for North America, EMEA, Latin America, Asia Pacific, and India
- Function heads for Commercial, Finance, Technology, Manufacturing, Supply Chain, Quality & Sustainability, HR, and Legal & Compliance
CNH plans to present its updated strategic plan at an Investor Day in early 2025.
CNH employee Jill Wiggins has made history by becoming the first woman to chair the Association of Equipment Manufacturers (AEM) conference. Jill, who works in CNH's Global AG Parts & Service & Maintenance Development team, led the conference planning committee for the Product Safety & Steward Conference in Rosemont, Illinois. This annual event brings together heavy equipment manufacturers, partners, and experts for a unique educational opportunity.
During the conference, Jill presented an AI-driven workshop on Increasing Terminology Effectiveness through Simplified Technical English (STE) and promoted AEM's newly formed ERG: Women Impacting Product Safety (AEM WIPS). Her achievement marks a significant milestone in the conference's 33-year history, highlighting CNH's commitment to diversity and innovation in the equipment manufacturing industry.
CNH (NYSE: CNHI) has announced a collaboration with Oxfam to support two social projects in Africa. The first, the Sumud Project in Tunisia, aims to promote sustainable economic growth by supporting micro, small, and medium enterprises in agriculture, tourism, and artisanal sectors. It will help implement resilience plans for about 1,000 people in vulnerable communities. The second, the Social Factory Initiative in South Africa, focuses on developing skills and creating jobs in waste collection, aiming to help 1,200 people directly and improve living conditions for over 300,000 people. Both projects align with several UN Sustainable Development Goals, including decent work, reducing inequalities, and responsible consumption.
CNH's 'A Sustainable Year' series highlights education projects in Brazil, focusing on raising environmental awareness. The company supports extra-curricular activities in rural schools, covering topics like environmental education, diversity, robotics, and human rights. In 2023, CNH brands Case IH and CASE Construction Equipment, along with CNH Capital, sponsored campaigns in Brazil's north-east region for the second consecutive year.
The initiative reached over 15,000 children in Piauí and Maranhão states through child-friendly methods such as audio books, comics, workshops, and theatre productions. This effort aims to create long-term sustainability by educating future generations about environmental issues and other important topics.
CNH brands Case IH, New Holland, and CASE Construction showcased their latest innovations at NAMPO 2024 in South Africa, which set a new attendance record with 86,474 visitors. Case IH introduced the theme 'Feel at Home with Technology' and unveiled the Optum tractor. New Holland highlighted their Methane-Powered Tractor and Twin Rotor combine-harvester series. New Holland Construction featured the E215C Excavator and B80C backhoe loader. CASE Construction drew crowds with their 'Make Some Noise' campaign, featuring a graffitied CX220C LC Excavator and interactive challenges.
New Holland, a CNH brand, has delivered 10 pink tractors to honor women in forestry in Brazil. This initiative, part of the #ÉTEMPODEMULHER movement, aims to support female entrepreneurship and increase visibility for women in agriculture. The idea came from Empreiteira Costa Pinto and Ottoboni dealership in Mato Grosso do Sul.
The pink New Holland TL5.90 tractors were delivered to newly hired female operators in the forestry sector. Eduardo Kerbauy, New Holland's VP for Latin America, emphasized the brand's commitment to supporting women and sustainable productivity. Adilson Costa Pinto, owner of Empreiteira Costa Pinto, noted the success of investing in female labor, while Renato Stevanato Ottoboni highlighted the tractors' role in spreading awareness about women's appreciation in agriculture.
CNH Industrial (NYSE: CNHI) has expanded its capabilities at the India Technology Center (ITC) in Gurugram with the addition of a first-of-its-kind Multi-Vehicle Simulator (MVS). This innovative technology allows virtual testing and evaluation of products before physical prototypes are built, enhancing product validation and employee training while reducing waste and improving quality.
The MVS significantly advances R&D capabilities at the ITC, which opened in 2021 to support CNH's business in India and its global product portfolio. This investment aligns with CNH's commitment to sustainably advancing agricultural and construction equipment technology, focusing on innovation, sustainability, and productivity.
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