EarningsQ2 2026 Earnings Report
DE:37C Q2 2026 EPS Results
Actual EPS€0.12
Consensus EPS€0.09
Beat/MissBeat by +€0.02
One Year Ago EPS€0.15
DE:37C Q2 2026 Revenue Results
Actual Revenue€4.29B
Expected Revenue€4.26B
Beat/MissBeat by +€29.87M
YoY Revenue Growth+1.95%
Earnings Announcement Details
QuarterQ2 2026
Date08/03/2026
TimeBefore Open
Conference CallMonday, August 3, 2026
DE:37C Upcoming Earnings
CNH Industrial's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:37C Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: modest revenue growth and notable Construction strength, disciplined operational progress (procurement, dealer consolidation, pricing positive vs. cost), and improved guidance in some areas, but these positives are offset by significant margin compression from tariffs and product mix, sharp weakness in South America, H1 negative industrial free cash flow, and constrained farm economics. Management highlighted concrete strategic actions and potential tailwinds (underproduction correction, tariff rate reductions, sourcing savings), but material near-term demand and profitability headwinds remain.Company Guidance
Consolidated Revenue Growth
Consolidated revenues of $4.8 billion, up 2% year-over-year (including ~2% positive currency impact).
Agriculture Sales Resilience with Regional Strengths
Agriculture net sales of ~$3.3 billion, up 1% year-over-year; North America up ~10%, EMEA roughly flat (+1%), while South America declined sharply.
Construction Segment Outperformance
Construction net sales of $866 million, up 12% year-over-year driven by North America; guidance for Construction raised to +5% to +10% sales and EBIT margin guidance to 1.8%–2.3%.
Adjusted Profit and EPS
Adjusted net income of $161 million and adjusted EPS of $0.13 for the quarter; full-year adjusted EPS guidance narrowed to $0.41–$0.46.
Positive Price/Cost Dynamics
Price/cost remained positive for the quarter and is expected to be positive for the full year, helping offset some headwinds.
Progress on Dealer Consolidation and Market Share
Ongoing dealer consolidation and multi-brand dealer expansion (examples cited across US, Germany, Brazil) with reported market share gains across tractors and combines and fastest-growing brand position in India.
Strategic Sourcing Program and Margin Target
Strategic sourcing program progressing with early waves delivering; target to add 100–150 basis points of margin improvement from sourcing by 2030.
Tariff Relief Trajectory and IEEPA Refund Activity
Some Section 232 tariffs reduced from 25% to 15% for certain products, lowering expected 2026 tariff impact; received $5 million Phase 1 IEEPA refund and filing ~ $135 million in Phase 2 claims (additional ~$15 million Phase 3 estimate).
Guidance Narrowing and Full-Year Outlook
Management narrowed and adjusted full-year guidance: Industrial net sales flat to +2%; Industrial adjusted EBIT margin 3.2%–3.8%; industrial free cash flow forecast $200–$400 million.
Underproduction Provides Potential 2027 Tailwind
Company is currently underproducing to 2026 demand by ~4%, which management expects will create an automatic tailwind into 2027 as production aligns with retail demand.
DE:37C Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed