After starting its 2026 fiscal year with a decline in construction equipment net sales, CNH Industrial bounced back in its latest earnings.
CNH Industrial is the parent company for the Case and New Holland brands.
Global net sales in CNH’s construction equipment segment were up 12% year-over-year in the second quarter to $866 million. In the same period, the company’s construction business posted a $15 million profit in adjusted earnings before interest and taxes, down from $35 million in last year’s second quarter.
Key negative impacts in this segment included the impact of tariffs and higher R&D expenses, partially offset by higher volumes and lower selling, general and administrative expenses.
In the second quarter of 2026, CNH Industrial sold 1,788 new financed machines in the U.S. between its Case Construction and New Holland Construction brands, according to Fusable’s EDA equipment finance data. Popular models included the Case TV370B and TR310B compact track loaders and New Holland C337 compact track loader. (EDA is owned by Fusable, parent company of Equipment World.)
During the company’s 2025 annual earnings call in February, CEO Gerrit Marx said the company had renewed its search for partnerships to expand its construction business. During the recent second-quarter 2026 earnings call, Marx elaborated that the partnership would upgrade CNH’s construction economies of scale, geographic reach and competitiveness across all product lines, especially heavy excavators, and expand construction equipment technology offered through its farm equipment network.
Powered byCNH Industrial’s ag equipment business saw a 1% increase in second-quarter net sales to $3.3 billion. Adjusted earnings before interest and taxes, however, fell 35% year-over-year in the second quarter to $170 million. Profit in CNH’s ag equipment business suffered from lower volumes in South America, unfavorable mix in its North America and EMEA markets; the impact of tariffs; higher selling, general, administrative and R&D expenses; and lower joint venture results.
For the first six months of the year, construction equipment net sales were up 6% year-over-year to $1.4 billion, and ag equipment net sales rose 1% to $5.9 billion.
Consolidated revenue in the second quarter rose 2% to $4.8 billion, while net income was down 35% year-over-year from $217 million to $141 million.
Looking at its full 2026 fiscal year, CNH forecasts construction equipment net sales to rise 5% to 10% year-over-year and ag equipment sales to be flat.
