CNH reported Q2 2026 revenue of $4.80B, up 2% YoY, with net income of $141M and adjusted net income of $161M. Operating cash flow was $145M and industrial free cash flow $150M, supporting a updated outlook at the high end of prior ranges. The company projects flat Agriculture net sales but 5–10% Construction growth, with higher EBITDA margins and a robust free cash flow target for 2026, signaling discipline through the cycle.
CNH earnings projected to bottom out in 2025 after declines. Analyst upgrades CNH Industrial rating from Perform to Outperform. Incremental catalysts expected in 2025 might support CNH reversion. Improvement in grain prices could boost global farm income. Recent developments create a favorable context for CNH's upcoming results.
David Einhorn expresses confidence in CNH's undervaluation. He believes agricultural equipment is nearing the end of a bearish cycle. CNH shares rose over 4% in extended trading after his remarks.
