CNH Industrial reported results for the three months ended June 30, 2024, with net income of USD 438 million compared with net income of USD 710 million 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.
“I am thrilled to have rejoined the hardworking CNH team”, says CEO Gerrit Marx. “I have long admired this company for its brands and truly global presence. After spending my first weeks visiting our plants, dealers, and customers, I am impressed by the focus on advancing our brands’ distinctive positions, developing the product pipeline, accelerating our technology offerings, and turning around the construction business. I’m returning at a challenging point in our industries, and I appreciate the ongoing efforts that our employees have made this past quarter. We will continue to manage the business prudently through 2024 while positioning ourselves for 2025. I am confident in our success and look forward to presenting our strategy with you at an investor day in early 2025.”
The full report on the 2nd quarter results of CNH can be found here.
