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    Ted Jackson • Northland Securities, Inc.

    Ted Jackson's questions to CNH Industrial NV (CNH) leadership

    Ted Jackson's questions to CNH Industrial NV (CNH) leadership • Q2 2025

    Question

    Ted Jackson of Northland Securities, Inc. focused on the North American market, asking about the price gap between new and used equipment and whether clearing inventories would require more aggressive incentives in the second half of the year.

    Answer

    CEO Gerrit Marx acknowledged the price differential and confirmed that increased financial support to move used equipment is necessary and has been factored into the company's guidance. He stressed that clearing both new and used inventory is critical to opening the channel for new Model Year 2026 machines, which he noted will have significant value-added updates to differentiate them from older models.

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    Ted Jackson's questions to Hyliion Holdings Corp (HYLN) leadership

    Ted Jackson's questions to Hyliion Holdings Corp (HYLN) leadership • Q3 2024

    Question

    Ted Jackson of Northland asked for clarification on the 2025 production capacity in units, the timing of revenue recognition for those units, whether 2025 capacity depends on new equipment, the potential production capacity for 2026, and details on the new R&D revenue stream from the Navy contract.

    Answer

    CEO Thomas Healy stated 2025 production is expected to be 'several dozens of units.' CFO Jon Panzer clarified that revenue for all units sold in late 2024 and 2025 should be recognized around mid-2025 upon official commercialization. Management confirmed that recently installed equipment supports 2025 volume, while new printers arriving later in 2025 are for the 2026 ramp. Regarding the Navy contract, Panzer described it as a continuous R&D service relationship generating revenue from engineering work, material sales, and KARNO unit sales, with associated costs built into forecasts.

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