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CNH 2Q net sales up 9%, operating profit up 26%

Posted By Wayne Grayson On July 31, 2013 @ 9:45 am In Construction News | No Comments

CNH logo [1]Thanks to big increases in agricultural equipment sales, CNH Global saw jumps in both net sales and operating profit in the second quarter.

The company reported a year-over-year 9 percent increase in 2Q net sales to $5.5 billion and a 26-percent jump in operating profit from equipment sales to $659 million.

Comprising 83 percent of CNH equipment sales in the quarter, ag equipment more than made up for losses seen in construction equipment sales.

For the quarter, CNH sold $4.5 billion in ag equipment, up 13 percent since the same period last year. Meanwhile, ag operating profit increased a whopping 28 percent to $647 million.

Construction equipment net sales fell 6 percent to $949 million. Operating profit fell even further—30 percent to $12 million.

For its full year outlook, CNH expects agricultural equipment unit volume to be up 5 percent, while construction equipment unit volume is expected to be flat to down 5 percent.

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