Fri, Feb 28, 10:13 PM (16 days ago)
**CNH Industrial Capital LLC (Ticker: CNH)** reported a robust financial performance for the fiscal year ending December 31, 2024. Total revenues increased by 22.7% to $1.3 billion, driven by higher average portfolio yields and increased interest income from retail notes and finance leases. Net income rose to $246.7 million from $215.1 million in 2023, reflecting improved operational efficiency despite rising borrowing costs and higher provisions for credit losses. Operating expenses also increased, primarily due to a significant rise in interest expenses, which reached $706 million, up 32.2%. The provision for credit losses surged 324.5% to $49.2 million, indicating a cautious approach amid economic uncertainties. As of year-end, total assets stood at $16.9 billion, with stockholder equity at $1.6 billion. Strategically, CNH Capital remains heavily reliant on CNH North America, with over 90% of revenue linked to financing for its equipment. The company’s funding strategy involves securitization and various credit facilities, maintaining liquidity despite market volatility. Future outlook remains cautious, with macroeconomic factors such as interest rates and agricultural commodity prices posing risks. The company’s ability to adapt to these dynamics will be crucial for sustaining growth.