CNH Industrial Q2 2023 Earnings Report
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.
CNH Industrial
CNH Industrial
CNH Industrial 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