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

Updated Aug 1, 2013

CNH logoThanks 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.