Industrials
Farm & Heavy Construction Machinery
$56.51B
32.4K
Key insights and themes extracted from this filing
Net sales and revenues were $8.24 billion in Q3 2024, compared to $8.70 billion in Q3 2023, primarily due to lower truck revenues, partially offset by higher parts and financial services revenues.
Net income was $972.1 million in Q3 2024, compared to $1.23 billion in Q3 2023, reflecting lower truck revenues and lower operating lease margins, partially offset by higher finance margins.
Truck gross margin was 13.0% in Q3 2024 compared to 16.8% in Q3 2023, due to lower truck unit deliveries and higher costs.