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Source: CNH Industrial news release

CNH Industrial reports strong second quarter performance.

*Consolidated revenues of $8.9 billion (up 60% compared to Q2 2020), net income of $699 million, adjusted diluted

*EPS of $0.42, and adjusted EBIT of Industrial Activities of $699 million (up $757 million).

*$1.0 billion free cash flow of Industrial Activities.

*Financial results presented under U.S. GAAP

"I am extremely proud of the outstanding execution of our CNH Industrial team in the second quarter, especially for their commitment to delivering for our customers and dealers around the world. Despite ongoing supply chain challenges and inflationary pressures, the continued strength of our end markets in conjunction with aggressive pricing activity, margin expansion initiatives, and solid teamwork propelled us to record second quarter earnings. Our industry is clearly in a cyclical upturn and the sound fundamental performance of our businesses and operations is enabling us to capture much of the benefit.

This robust environment contributed to growth across AG, CE, and C&SV order books, which also reflected the excellent Q2 performance of each of these businesses.

With the acquisition of Raven Industries, the largest in our company's history, we are adding significantly to our precision agriculture capabilities and establishing the foundation for building this into a sustainable competitive advantage.

We also began the first phase of our organization redesign, directed both at eliminating bureaucratic obstacles to customer centricity and to positioning each business in preparation for the spin. Both SpinCo and RemainCo remain laser focused on delivering for our customers throughout these activities, and with market demand and customer sentiment rising, our production facilities moving mountains to satisfy customer needs, and a comprehensive plan being nimbly executed by our dedicated team, CNH Industrial is poised for a noteworthy second half and an even brighter future."

To read the entire report click here.

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