CNH booked a turnover of US$4.8 billion in Q2 of 2026. This is 2% more than in the same three months last year. Net profit was down to US$141 million (US$217 million Q2 2025).
The US$3.3 billion recorded by the company’s agricultural (Case IH, New Holland and Steyr) division is similar to the same three months in 2025. In North America, Q2 industry sales volume was down 16% year-over-year for tractors under 140hp and down 17% for tractors over 140hp; combines were down 7%.
Tractor and combine demand were down 11% and 1%, respectively in EMEA (Europe, Middle East and Africa), and South America saw tractor and combine demand decline 8% and 29%, respectively. In Asia Pacific, tractor demand increased 15%, while combine demand decreased 48%.
“Our second quarter results reflect disciplined execution by the CNH team in a market that remains at the trough of the agriculture cycle,” said Gerrit Marx, CEO of CNH. “Despite the industry conditions, we delivered year-over-year revenue growth and continued progress on our strategic priorities, including quality, sourcing, operational efficiency, and dealer network consolidation.”
“While farmer economics remain pressured, we are seeing constructive equipment-cycle indicators, including dealer inventory normalization, aging fleets, and a more balanced relationship between new and used equipment pricing.”
CNH expects market conditions to remain difficult for the rest of this year. This is mainly due to low prices for agricultural products, high production costs and uncertainty surrounding international trade. As a result, the concern expects sales to stabilise in the agricultural division for the rest of this year.
The concern’s construction equipment division is more upbeat, with net sales up 12% in Q2 to US$866 million (US$773 million Q2 2025). The full year outlook is for a sales growth of 5-10% for construction machinery.
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