CNH Industrial reported second-quarter revenue of $4.8 billion, up 2% from a year earlier, while adjusted earnings per share came in at $0.13. Agriculture segment sales were approximately $3.3 billion, up 1%, but adjusted EBIT margin fell to 5.2% from 8.1% a year ago due to unfavorable product mix and tariff costs. Construction sales rose 12% to $866 million, though its adjusted EBIT margin dropped to 1.7% from 4.5% as tariffs weighed on profitability. The company plans to reduce dealer inventories by an additional $400 million to $500 million by year-end and expects a broadly flat agriculture market in 2027. CNH also noted that revised Section 232 tariff rules lowered rates on certain equipment to 15% from 25%, and it is filing approximately $135 million in Phase 2 refund claims.
CNH Industrial N.V.Agriculture and construction margins pressured by tariff costs and unfavorable mix, despite revenue growth.
Caterpillar Inc