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and are preparing countermeasures designed to mitigate the impact from recently announced tariffs as their full effect becomes known . Aggregate market demand is expected to remain muted but relatively stable in the first half with the potential for a positive inflection later in the year ,” said Donald Allan , Jr ., Stanley Black & Decker ’ s president & CEO .
“ With the recent tariff announcements , we are preparing for a dynamic backdrop in 2025 and expect to respond with supply chain and price actions designed to mitigate the impact from such tariffs to maintain our margin objectives ,” said Patrick D . Hallinan , executive V . P . and CFO .
CNH OFF 20 % FOR YEAR
On Feb . 4 , CNH reported results for 12 months ended Dec . 31 , 2024 , stating its full year 2024 consolidated revenues were $ 19.84 billion , down 20 % yearover-year , with net sales of Industrial Activities at $ 17.06 billion , down 23 %.
The decline in net sales of Industrial Activities was mainly due to lower shipment volumes on decreased industry demand and dealer destocking . In North America , industry volume was down 34 % year-over-year in Q4 2024 for tractors over 140 HP and was down 10 % for tractors under 140 HP .
Agriculture net sales decreased for the quarter by 31 % to $ 3.4 billion primarily due to lower shipment volumes on decreased industry demand across all regions and dealer destocking .
“ The challenging market conditions will continue at least through the first half of 2025 , and we will keep production levels fairly low by design to drive channel inventory down further ,” said Gerrit Marx , Chief Executive Officer .
The company forecasts that 2025 global industry retail sales will be lower in both the agriculture and construction equipment markets when compared to 2024 . In addition , CNH is focused on driving down excess channel inventory by producing fewer units .
The lower production and sales levels will negatively impact segment margin results . CNH is continuing to focus on reducing product costs through lean
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