CNH INDUSTRIAL N.V. Stock Price, News & Analysis

On October 1, 2020, CNH Industrial (NYSE: CNHI) and Nikola Corporation (NASDAQ: NKLA) co-sponsored an event titled “Decarbonization of Heavy Transport and the Role of Hydrogen.” The event gathered EU policymakers and industry experts to discuss hydrogen’s role in achieving zero-emission transport. CNH's Gerrit Marx emphasized the company’s commitment to hydrogen technology and announced plans to begin production of the Tre BEV by Q4 2021 in Germany. Both companies aim to support the European Commission’s goal of carbon neutrality by 2050.

IVECO, a brand of CNH Industrial N.V. (NYSE: CNHI), secured a record order for 100 Stralis Natural Power trucks, powered by compressed natural gas (CNG), from NRG Argentina S.A. This order marks the largest of its kind in South America. Alongside the trucks, NRG has purchased 100 maintenance contracts, supporting the establishment of a service center in Río Negro, Argentina. The Stralis trucks significantly reduce fuel costs by 40-50% and emissions by up to 90%, contributing to eco-friendly transportation solutions.

On September 29, 2020, CNH Industrial N.V. (NYSE: CNHI) announced its subsidiary, CNH Industrial Capital LLC, has priced $500 million in 1.875% notes due 2026. The offering is set to close on October 6, 2020, pending customary conditions. Proceeds from the notes will support general corporate purposes, including working capital and asset purchases, and may be used to repay existing debt. The notes, which will mature on January 15, 2026, will pay interest semi-annually and are guaranteed by two wholly-owned subsidiaries of CNH Industrial Capital LLC.

CNH Industrial N.V. (NYSE: CNHI) announced plans for its subsidiary CNH Industrial Capital LLC to offer new notes, contingent on market conditions. These notes will be guaranteed by its wholly owned subsidiaries, CNH Industrial Capital America LLC and New Holland Credit Company, LLC. Proceeds will be used for working capital, corporate purposes, and debt repayment. The offering is backed by an effective shelf registration statement filed on March 15, 2019, with Citigroup, Barclays, Morgan Stanley, and RBC Capital Markets acting as joint book-running managers.

On September 28, 2020, CNH Industrial N.V. (NYSE: CNHI) announced the immediate resignation of board member Nelda J. Connors. Connors, who also served on the Audit Committee, cited her inability to commit sufficient time due to existing executive responsibilities. CNH Industrial is a global leader in capital goods, operating various brands in sectors including agriculture, construction, and commercial vehicles. Her resignation raises questions about board continuity and leadership impact.

CNH Industrial's logistics team has innovatively addressed the challenge of transporting large combine harvesters from Zeebrugge, Belgium, across Europe by reverting to water transport on the Danube River. Weighing up to 24,500 kilos, these machines are difficult to transport by road. The company drew inspiration from the Danube's historical significance in freight shipping, enabling a more cost-effective and environmentally friendly transport solution. This initiative aligns with CNH Industrial's commitment to reducing its carbon footprint through sustainable practices.

CNH Industrial reported consolidated revenues of $5.6 billion for Q2 2020, a 26% decline year-on-year, primarily due to COVID-19 impacts. The company recorded a net income of $361 million but faced an adjusted net loss of $85 million. Despite the challenges, free cash flow was positive at $97 million, and available liquidity remained strong at $11.5 billion. Notably, CNH faced a net debt of $2.3 billion and a rating change from Fitch, now stable from positive.