CNH Releases Q2 Financial Results

Net sales in CNH Industrial's agriculture division decreased 7.5 percent for the second quarter of 2016 compared to the same quarter last year. The business pointed to lower industry volume, unfavorable product mix in the row crop sector in the North American Free Trade Area, and unfavorable industry volume in the small grain sector in Europe, the Middle East, and Africa (EMEA).

Net sales increased in Asia Pacific, mainly driven by higher volume in Australia. Sales in specialty tractors and harvesters in EMEA remain strong, and in Latin America, sugar cane harvester demand offset the industry decline for tractors.

Construction equipment’s net sales decreased 19.6 percent for the second quarter of 2016, due to negative industry volumes primarily in the heavy product class in all regions.