CNH Industrial NV

CNH: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CNH Earnings: Results Continue To Be Hit by Ag Downcycle

Brian Bernard , Alex Medow

Aug 1, 2024

Narrow-moat-rated CNH Industrial reported second-quarter revenue and earnings per share that were modestly above FactSet consensus estimates. But management's downward-revised guidance for full-year revenue, adjusted EPS, and free cash flow fell below our prior projections. After updating our forecast for weaker near-term results, we've lowered our fair value estimate about 4% to $14.70 per share.

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CNH Industrial NV

CNH Earnings: Results Continue To Be Hit by Ag Downcycle

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