United Airlines Holdings, Inc. vs CNH Industrial N.V.: SG&A Expense Trends

SG&A Expense Trends: United Airlines vs. CNH Industrial

In the ever-evolving landscape of corporate finance, understanding the trends in Selling, General, and Administrative (SG&A) expenses is crucial for investors and analysts alike. Over the past decade, United Airlines Holdings, Inc. and CNH Industrial N.V. have showcased distinct trajectories in their SG&A expenditures.

A Decade of Change

From 2014 to 2023, CNH Industrial's SG&A expenses have seen a notable decline of approximately 36%, from a peak in 2014 to a low in 2022. This reduction reflects strategic cost management and operational efficiencies. In contrast, United Airlines experienced a 44% increase in SG&A expenses over the same period, with a significant dip in 2020, likely due to the pandemic's impact on the airline industry. By 2023, United Airlines' SG&A expenses rebounded, surpassing CNH Industrial's for the first time in this period.

Strategic Implications

These trends highlight the differing strategic priorities and market conditions faced by these two industry giants. For investors, understanding these dynamics is key to making informed decisions.