CNH Global N.V. Earnings Cheat Sheet: Beats Forecasts

CNH Global N.V. (NYSE:CNH) reported net income above Wall Street’s expectations for the second quarter. A global, full-line company in both the agricultural and construction equipment industries, with positions in many significant geographic and product categories in both agricultural and construction equipment.

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CNH Global Earnings Cheat Sheet for the Second Quarter

Results: Net income for the farm and construction machinery company rose to $320 million ($1.33 per share) vs. $144 million (60 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Revenue: Rose 23.9% to $4.88 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: The company beat the mean analyst estimate of 99 cents per share and topped the revenue estimate of $4.52 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 17.7%, with the biggest boost coming in the most recent quarter when revenue rose 23.9% from the year earlier quarter.

Last quarter marked the fifth consecutive quarter of gross margins expanding as the company’s gross margin expanded 0.9 percentage point to 20.2% from the year earlier quarter. Over that span, margins have grown on average 2.1 percentage points per quarter on a year-over-year basis.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 14 cents in the first quarter, by 45 cents in the fourth quarter of the last fiscal year, and by 9 cents in the third quarter of the last fiscal year.

Competitors to Watch: AGCO Corporation (NYSE:AGCO), Arts-Way Manufacturing Co. Inc. (NASDAQ:ARTW), Deere & Company (NYSE:DE), Caterpillar Inc. (NYSE:CAT), Lindsay Corporation (NYSE:LNN), Alamo Group, Inc. (NYSE:ALG), Kubota Corporation (NYSE:KUB), Manitowoc Company, Inc. (NYSE:MTW), and Columbus McKinnon Corp. (NASDAQ:CMCO).

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(Source: Xignite Financials)

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