CNH Industrial NV (CNHI) Q2 2022 Earnings Call Transcript

For the period ending JUNE 30, 2022

July 29, 2022 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello and welcome to the CNH Industrial Second Quarter Call. My name is Judy, and I will be the coordinator for today’s event. Please note that this call is being recorded. For duration of the call, your lines will be in listen-only. However, you will have the opportunity to ask questions at the end of the call. [Operator Instructions].

I will now hand you over to your host, Noah Weiss to being today’s conference, Head of Investor Relations. Thank you.

Noah Weiss

Thank you, Judy. Good morning and good afternoon to everyone. We would like to welcome you to the webcast and conference call for CNH Industrial's second quarter results for the period ending June 30, 2022. This call is being broadcast live on our website and is copyrighted by CNH Industrial. Any other use, recording or transmission of any portion of this broadcast without the express written consent of CNH Industrial is strictly prohibited.

Hosting today's call are CNH Industrial CEO, Scott Wine; and CFO, Oddone Incisa. They will use the material available for download from the CNH Industrial website.

Please note that any forward-looking statements we might be making during today's call are subject to the risks and uncertainties mentioned in the Safe Harbor statement included in the presentation material. Additional information pertaining to factors that could cause actual results to differ materially is contained in the company's most recent Report 20-F and EU Annual report as well as other periodic reports and filings with the U.S. Securities and Exchange Commission and equivalent authorities in the Netherlands and Italy.

The company presentation may include certain non-GAAP financial measures. Additional information, including reconciliations to the most directly comparable U.S. GAAP financial measures is included in the presentation material.

I will now turn the call over to Scott.

Scott Wine

Thank you, Noah, and welcome to everyone joining our call.

We finished the first half of 2022 with record second quarter revenues of 17.5% year-over-year in spite of 3% currency headwind. I am proud of the team's resolute performance in the face of the dynamic and challenging global economic and geopolitical environment. Their efforts exemplify our commitment to meeting our agriculture and construction customers needs as their customers depend on us to feed and house an ever-growing population.