CNH Q2 2025 Earnings
Reported Aug 1, 2025 at 6:53 AM ET · SEC Source
Q2 25 EPS
$0.17
BEAT +20.57%
Est. $0.14
Q2 25 Revenue
$4.71B
BEAT +4.58%
Est. $4.50B
vs S&P Since Q2 25
-37.5%
TRAILING MARKET
CNH -19.6% vs S&P +17.9%
Market Reaction
Did CNH Beat Earnings? Q2 2025 Results
CNH Industrial delivered a better-than-expected second quarter despite a market environment defined by weak equipment demand, posting earnings of $0.17 per diluted share against a consensus estimate of $0.14, a beat of 20.57%, while revenue of $4.71 … Read more CNH Industrial delivered a better-than-expected second quarter despite a market environment defined by weak equipment demand, posting earnings of $0.17 per diluted share against a consensus estimate of $0.14, a beat of 20.57%, while revenue of $4.71 billion topped the $4.50 billion estimate by 4.58%. The headline improvement masked a sharp 14.2% year-over-year revenue decline, driven by a deliberate strategy to produce below retail demand levels in order to work off bloated dealer inventories, with production hours falling 12% and channel inventory dropping $300.00 million in the first half alone. Agriculture net sales slid 17% to $3.25 billion and adjusted EBIT margin compressed 470 basis points to 8.1%, while a $451.00 million industrial free cash flow result, improving $311.00 million year-over-year, highlighted the benefits of tighter working capital management. Financing originations also dipped amid tariff uncertainty and low commodity prices. CNH reaffirmed its full-year 2025 adjusted diluted EPS guidance of $0.50 to $0.70, though it cautioned that evolving U.S. Trade policy remains a meaningful variable in the outlook.
Key Takeaways
- • Lower shipment volumes due to decreased industry demand and continued dealer destocking
- • Favorable net price realization in both Agriculture and Construction segments
- • Lower production, warranty, and SG&A expenses partially offsetting volume declines
- • Industrial free cash flow improvement of $311M YoY driven by lower net change in working capital
- • Production hours reduced 12% YoY to decrease dealer inventory
CNH YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
CNH Revenue by Segment
With YoY comparisons, source: SEC Filings
CNH Revenue by Geography
With YoY comparisons, source: SEC Filings
“While we continued to face challenging market conditions this quarter, the CNH team's resilience and dedication allowed us to navigate through them effectively and in line with our targets. We are focused on the strategic priorities that we outlined at our recent investor day to advance our operational improvements and the investments that deliver exceptional products and technology for our farmers and builders. We appreciate the support from our suppliers as we navigate uncertain trade waters, and from our dealer network that strives for unmatched customer service as we position CNH for long-term success. I am excited for the future of CNH and sharing the journey ahead with you.”
— Gerrit Marx, Q2 2025 Earnings Press Release
CNH Earnings Trends
CNH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CNH EPS Trend
Earnings per share: estimate vs actual
CNH Revenue Trend
Quarterly revenue: estimate vs actual
CNH Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.00 | $0.01 | +194.12% | $3.83B | -0.87% |
| Q4 25 BEAT FY | $0.11 | $0.19 | +74.79% | $5.16B | +5.52% |
| FY Full Year | — | $0.55 | — | $18.10B | — |
| Q3 25 MISS | $0.14 | $0.08 | -41.48% | $4.40B | +4.34% |
| Q2 25 BEAT | $0.14 | $0.17 | +20.57% | $4.71B | +4.58% |