CNH Reports Decline in Q2 Revenue

CNH Industrial N.V. reported results for the three months ended June 30, 2024, with net income of $438 million and diluted earnings per share of $0.34 compared with net income of $710 million and diluted earnings per share of $0.52 for the three months ended June 30, 2023. Consolidated revenues were $5.49 billion (down approximately 16% compared to Q2 2023) and Net sales of Industrial Activities were $4.80 billion (down approximately 19% compared to Q2 2023). Net cash provided by operating activities was $379 million and Industrial Free Cash Flow generation was $140 million in Q2.

• Second quarter consolidated revenue declined 16% on lower industry demand
• Second quarter diluted EPS at $0.34; adjusted diluted EPS at $0.38 ($0.52 in the second quarter of 2023)
• Results reflect continued execution of cost savings initiatives mitigating the impact of market headwinds
• Returned $1.2 billion to shareholders through dividends and share repurchases in the first half of 2024
• Full-year guidance updated to reflect weaker market conditions

Source: AgEquipmentIntelligence.com |Member since 1970