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Jun 30, 2023
CNH Industrial Q2 2023 Earnings Report
Reported record net income and revenue growth, driven by favorable market conditions and operational execution.
Key Takeaways
CNH Industrial reported record second quarter net income of $710 million and consolidated revenues of $6.57 billion, up 8% compared to Q2 2022. The company capitalized on favorable market fundamentals and solid operational execution, with the Agriculture segment setting margin records and Construction net sales surpassing $1 billion for the first time.
Consolidated revenues increased by 8% compared to Q2 2022, reaching $6.57 billion.
Net income reached $710 million, with diluted EPS of $0.52.
Industrial Free Cash Flow generation was $386 million in Q2.
Agriculture segment achieved record margins, and Construction net sales exceeded $1 billion for the first quarter in history.
Revenue by Segment
Forward Guidance
The Company is reaffirming the following 2023 outlook for its Industrial Activities:
Positive Outlook
- Net sales up between 8% and 11% year on year including currency translation effects
- SG&A up no more than 5% vs 2022
- Free Cash Flow of Industrial Activities between $1.3bn and $1.5bn
- R&D expenses and capital expenditures at around $1.6bn
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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