CNH Industrial posted second quarter revenues of $8.9 billion, compared to $8.8 billion in the second quarter of 2013, a 0.9-percent increase. Net sales of Industrial Activities increased from $8.5 billion to $8.6 billion, although operating profit for that segment dropped 1.2 percent to $678 million.
Net sales for construction equipment were $931 million for the quarter, a 0.9-percent year-over-year drop. Industry volumes decreased 10 percent in heavy equipment and 2 percent in light equipment in the quarter, compared to the previous year. The Construction Equipment division reported operating profit of $28 million, compared to $13 million in the second quarter of 2013.
Agricultural Equipment net sales were $4.4 billion, a 2.3-percent year-over-year decline.
CNH’s Powertrain division reported second quarter net sales of $1.25 billion, a 13.6-percent year-over-year hike, primarily resulting from higher volumes.
Second quarter revenues of CNH’s Financial Services division jumped 13 percent to $468 million.
