CNH earnings / call / takeaways
CNH earnings call: key takeaways
What CNH said on its earnings call of November 9, 2026: results against expectations, what changed since last quarter, guidance and the questions analysts pressed on.
By Lician·November 9, 2026·AI-generated from the call transcript and Lician data
- CNH reported adjusted diluted EPS of $0.16, which beat the $0.10 consensus estimate (4:58)
- The company announced a joint venture with Kobelco Construction Machinery, positioning itself as a pure-play agricultural equipment company (1:35)
- The results reflect continued execution amid a challenging agricultural equipment cycle. (1:35)
Results vs expectations
| Metric | Consensus | Reported | Result |
|---|---|---|---|
| EPS | $0.10 | – | – |
| Revenue | $4.53B | – | – |
What changed since last quarter
- The company raised its full-year agriculture EBIT margin guidance to 5.1% to 5.4% from 5% to 5.5%. (20:26)
- CNH announced a joint venture with Kobelco Construction Machinery, which will be accretive to margins and strengthen its financial profile. (1:35)
- The company expects the CEJV transaction to close by the end of 2027, with a 30% equity stake retained. (10:22)
Guidance
| Metric | This call | Previous call |
|---|---|---|
| Revenue | Full-year 2026 agriculture segment sales expected to be approximately flat year-over-year. (20:26) | not captured |
| Revenue | Full-year 2026 industrial net sales expected to increase approximately 2% year over year. (22:05) | not captured |
| Free cash flow | Full-year 2026 industrial free cash flow outlook raised to $300 to $450 million. (22:05) | not captured |
| EPS | Full-year 2026 adjusted diluted EPS expected to be $0.44 to $0.48. (22:05) | not captured |
What analysts pressed on
In their words
We saw new inventories intentionally decline by approximately $100 million sequentially.
Garrett Marks (1:35)We will make further investments of these funds during the fourth quarter.
Garrett Marks (4:58)We are excited about the opportunity this transaction creates for both CNH customers and shareholders.
Garrett Marks (10:22)The net benefit of the EMEA tariff-free funds in the quarter was $32 million.
Jim (13:57)
Read the full transcript with the AI summary, or listen on the company's official webcast.
Every past call in full and transcript search come with Lician Pro.
Written by AI from the automatic transcript of the company's public webcast and Lician's earnings data. Each sentence cites the passage it comes from, and a sentence with a figure that is not in its sources was removed. Not investment advice.