CNH Industrial N.V. (NYSE:CNHI) Q3 2023 Earnings Conference Call November 7, 2023 9:30 AM ET
Company Participants
Jason Omerza - VP of IR
Scott Wine - CEO
Oddone Incisa - President and CFO
Conference Call Participants
Steven Fisher - UBS
Nicole DeBlase - Deutsche Bank
Michael Feniger - Bank of America
David Raso - Evercore ISI
Timothy Thein - Citi
Tami Zakaria - JPMorgan
Daniela Costa - Goldman Sachs
Kristen Owen - Oppenheimer
Operator
Hello, and welcome to the CNH Industrial Third Quarter Conference Call. Please note this conference is being recorded. [Operator Instructions]
I will now hand you over to your host, Jason Omerza, Vice President of Investor Relations to begin today's conference.
Jason Omerza
Thank you, Francois. Good morning, and good afternoon to everyone. We would like to welcome you to the webcast and conference call for CNH Industrial's third quarter results for the period ending September 30, 2023. This call is being broadcast live on our website and is copyrighted by CNH Industrial. Any other use, recording or transmission of any portion of this broadcast without the expressed written consent of CNH Industrial is strictly prohibited.
Hosting today's call are CNH's CEO, Scott Wine; and CFO, Oddone Incisa. They will use the material available for download from the CNH website. Please note that any forward-looking statements that we might make during today's call are subject to the risks and uncertainties mentioned in the safe-harbor statement included in the presentation material.
Additional information pertaining to factors that could cause actual results to differ materially is contained in the company's most recent Annual Report on Form 10-K as well as other periodic reports and filings with the U.S. Securities and Exchange Commission. And the equivalent reports and filings with authorities in the Netherlands and Italy. The company presentation includes certain non-GAAP financial measures. Additional information including reconciliations to the most directly comparable U.S. GAAP financial measures is included in the presentation material.
I will now turn the call over to Scott.
Scott Wine
Thank you, Jason. And thanks everyone for joining our call.
Our third quarter results were disappointing. But they also reflect the earnings power of CNH as we dealt with the challenging market environment in South America. The sustained strength of our North American row crop and construction equipment demand continues to be helpful offset to slowing demand in Brazil and Continental Europe.
Better efficiency with operational improvements, supply chain normalization and productivity gains from our many CNH Business System initiatives, helped drive record third quarter EBIT margins in both agriculture and construction.