CNH Global N.V. announced financial results for the quarter ended June 30, 2012. For the quarter, net sales increased 3% (9% constant currency basis) to $5.0 billion as firm global demand for agricultural equipment, on the back of favorable agricultural commodity prices, compensated for a more mixed trading environment in the construction equipment sector.
Equipment Operations posted a comparable period improvement in gross profit margin of 80 basis points to 21% for the second quarter and an Operating Profit of $524 million as higher revenues and positive net pricing compensated for increased SG&A expenditures and R&D investment and the negative impact from foreign exchange.
Equipment net sales during the quarter were 80% agricultural equipment and 20% construction equipment, in line with last year. The geographical distribution of net sales in the quarter was 43% North America, 35% EAME & CIS, 13% Latin America, and 9% APAC markets.