CNH Industrial NV reported consolidated revenues of $4.4 billion for the third quarter of 2025, a decrease of 5% compared to the same period in 2024. Net sales from Industrial Activities were $3.7 billion, down 7% year-over-year. Adjusted EBIT for Industrial Activities was $104 million, a 69% decline, with an adjusted EBIT margin of 2.8%, down 560 basis points. Net income was $67 million, a decrease of 78%, while adjusted net income was $109 million, down 64%. Diluted earnings per share stood at $0.06, and adjusted diluted EPS at $0.08. During the period, CNH Industrial continued to advance its long-term strategy, including significant dealer inventory reductions and ongoing investments in Iron + Tech. The company launched new generation combines and refreshed its tractor lineup, with a focus on equipping large product lines with precision technology. Guidance for full-year 2025 was updated, with expected net sales for Industrial Activities down 12% to 10% year-over-year, adjusted EBIT margin between 3.4% and 3.9%, and adjusted diluted EPS between $0.44 and $0.50.