CNH Industrial Q2 revenue falls 16%; cuts FY2024 guidance on weak demand

CNH Industrial N.V.

2024-Q2 EPS reported $0.66 revenue$10,306,000,000

Q2 consolidated revenue $5.49B (-16% YoY); diluted EPS $0.34 vs $0.52; adjusted diluted EPS $0.38.
Agriculture net sales $3.91B (-20%); adjusted EBIT margin 13.7% vs 16.8% in Q2 2023.
Construction net sales $0.89B (-16%); adjusted EBIT margin 6.7% vs 6.8%.
FY2024 guidance cut: adj. diluted EPS $1.30-$1.40 (from $1.45-$1.55); Industrial FCF $0.7-$0.9B.
Returned $1.2B to shareholders in H1; restructuring charges expected to reach $180M total.

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