CNH Industrial (CNH) Matches Q2 Earnings Estimates

Core Insights - CNH Industrial (CNH) reported quarterly earnings of $0.38 per share, matching the Zacks Consensus Estimate, but down from $0.52 per share a year ago [7] - The company posted revenues of $5.49 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.72% and down from $6.57 billion year-over-year [2] - CNH shares have declined approximately 16.5% since the beginning of the year, contrasting with a 14% gain in the S&P 500 [9] Financial Performance - The earnings surprise for CNH was 26.92% when it produced earnings of $0.33 per share against an expected $0.26 per share a quarter ago [1] - Over the last four quarters, CNH has surpassed consensus EPS estimates two times [8] - The current consensus EPS estimate for the upcoming quarter is $0.36 on revenues of $5.43 billion, and for the current fiscal year, it is $1.47 on revenues of $22.17 billion [11] Industry Context - CNH belongs to the Zacks Manufacturing - Farm Equipment industry, which is currently ranked in the bottom 13% of over 250 Zacks industries [5] - Another competitor in the same industry, Deere, is expected to report revenues of $10.89 billion, reflecting a 23.7% decline from the previous year [6] - The estimate revisions trend for CNH is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [14]