Revenue for CNH Industrial, parent company of Case Construction Equipment, was $8.9 billion in the second quarter of 2021, up 60 percent from the same period in 2020. Net income for the quarter was up nearly 100 percent to $699 million.
Construction sales were $808 million for the second quarter, up 93 percent from the $420 million recorded in Q2 2020. The company cited global demand increases in both Heavy and Light sub-segments, with Heavy up 6 percent and Light up 21 percent. Demand increased 42 percent in North America. Also contributing to the comparable sales increase were channel destocking actions in 2020 and better price realization.
For the first six months of 2021, revenue for CNH is up 48 percent to $16.4 billion. Sales in the construction segment are up 74 percent to $1.5 billion year to date.
Source: CNH Industrial
