CNH Industrial reported Q2 consolidated revenues of $6.57 billion, eight percent higher than the same quarter in 2022.
The company’s net income totaled $710 million and Adjusted Net Income was $711 million. Net cash used by operating activities totaled $139 million and Industrial Free Cash Flow generation hit $386 million in the second quarter of this year. Net sales for industrial activities hit $5.95 billion, up $341 million compared to the second quarter of last year.
The company saw significant improvements in Gross Profit Margin for the Agriculture and Construction segments.
A release from the company says, “The CNH Industrial team delivered great results in Q2 as we capitalized on favorable market fundamentals and solid operational execution. Our Agriculture segment set margin records, and for the first quarter in the company’s history, Construction net sales surpassed $1 billion. We are transforming the business and expanding our technology investments to drive growth.”
(From the National Association of Farm Broadcasters)