LONDON (dpa-AFX) - CNH Industrial N.V. (CNH) an equipment and services company, on Tuesday reported a decline in fourth-quarter profit, even as revenue grew, primarily due to significant impairment charges.
Net income attributable to CNH Industrial decreased to $86 million, or $0.07 per share from $173 million and $0.14 per share a year ago.
The company recorded $123 million in pretax in-process research & development (IPR&D) impairment charges related to its 2021 Raven acquisition, $62 million in non-cash pretax impairment of investments in Monarch Tractor and other minority holdings, and $8 million in pretax restructuring charges.
Excluding these one-time items, adjusted earnings amounted to $246 million, or $0.19 per share.
Revenues were $5.157 billion for the quarter, up 6% year-on-year from $4.876 billion.
For the full year, the company posted earnings of $505 million or $0.41 per share, down from $1.259 billion or $0.99 per share. Adjusted EPS was $0.55. Revenue decreased 9% to $18.1 billion.
For 2026, CNH Industrial expects adjusted EPS in the range of $0.35 to $0.45.
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