CNH Industrial NV
CNH: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$84.90 | Tfvzv | Mpczdhjp |
CNH Earnings: Ag Demand Pressured Near-Term, but We See It Recovering Long-Term
Narrow-moat CNH reported fourth-quarter results that showed ag demand continuing to slow. In the ag segment, sales were down 8% year on year, while gross margin was up 20 basis points to 23.3%, largely thanks to cost-reduction initiatives that started to show progress in the quarter. In construction, sales were up 9% year on year, and gross margin expanded 150 basis points to 14.8%.