CNH Industrial Q2 Earnings Call Highlights

3 weeks ago 8

MarketBeat

Mon, August 3, 2026 astatine 10:02 AM CDT 6 min read

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CNH Industrial (NYSE:CNH) reported second-quarter results that absorption said were mostly successful enactment with expectations arsenic the cultivation instrumentality marketplace remained pressured by anemic workplace profitability and cautious lawsuit spending connected ample superior purchases.

Chief Executive Officer Gerrit Marx said the institution is managing done a hard constituent successful the agriculture rhythm portion utilizing the downturn to amended merchandise quality, sourcing and manufacturing efficiency. He said CNH is besides investing successful connected and artificial intelligence-enabled exertion crossed its instrumentality basal and trader network.

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Consolidated gross totaled $4.8 cardinal successful the 2nd quarter, rising 2% from a twelvemonth earlier, including astir 2% of favorable currency effects. Adjusted nett income was $161 million, oregon $0.13 per share, portion concern escaped currency travel was $150 million, down twelvemonth implicit twelvemonth due to the fact that of little EBIT and higher working-capital investment.

Agriculture margins diminution amid tariffs and premix

Agriculture conception income were astir $3.3 billion, up 1% from the prior-year period, including a 2% favorable currency translation effect. Sales accrued 10% successful North America and 1% successful Europe, the Middle East and Africa, portion South American income fell 27%.

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Agriculture gross borderline declined to 19.7% from 21.8% a twelvemonth earlier. Chief Financial Officer Jim Nickolas attributed the diminution partially to unfavorable merchandise mix, including weaker income of ample tractors comparative to smaller tractors successful North America and little harvester income comparative to tractors successful South America.

Agriculture adjusted EBIT borderline fell to 5.2% from 8.1% successful the 2025 2nd quarter. Nickolas said unfavorable premix and tariff costs outweighed the benefits of pricing and cost-saving measures. He added that price-cost show was affirmative successful the 4th and is expected to stay affirmative for the afloat year.

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Dealer inventories were somewhat little sequentially, with reductions successful North and South America partially offset by higher inventories successful EMEA, wherever retail request was weaker than expected. CNH is targeting an further $400 cardinal to $500 cardinal simplification successful trader inventory by year-end, with the simplification weighted toward the 4th quarter.

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