Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1173.3%
Neutral320.0%
Bearish16.7%
CNH Industrial N.V. · CNH · FY2026 Q3 · Calendar Q4 2026
CNH sharpens agriculture focus as margins improve and construction JV advances
CNH’s Q3 narrative combines improved margins and higher full-year guidance with a strategic shift toward agriculture technology. The thesis depends on sustaining price realization and operational efficiency while managing regional demand, tariff exposure, and the construction joint-venture transition.
Why did CNH rise 10.9% after beating EPS estimates in FY2026 Q3?
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Reported Before market openNYSEIndustrials
$15.87B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.16
Consensus $0.10
EPS surprise
+67.1%
Reported versus consensus
Reported revenue
$4.35B
Consensus $4.52B
Revenue surprise
-3.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+10.9%
Event window
SPY move
+2.4%
Same window
Abnormal move
+8.5%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
CNHSPY benchmark
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Why did CNH rise 10.9% after beating EPS estimates in FY2026 Q3?What changed in CNH's guidance and outlook in FY2026 Q3?Give me the bull and bear case for CNH after FY2026 Q3 earnings.
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Transcript intelligence
What changed
Management highlighted the planned Kobelco construction joint venture and described a sharper agriculture focus. It also reported improved agriculture margins, construction sales growth, and order intake for 2027 in line with expectations; management characterized full-year guidance as raised.
Guidance delta
Management said full-year sales and EBIT-margin guidance was raised. Agriculture sales are expected to be flat, with the agriculture EBIT-margin outlook narrowed; the supplied analysis gives the range as 5.1–5.4%.
Key takeaways
- Agriculture margin improvement reflects price realization and operational efficiencies, while agriculture sales remain under pressure.
- Construction sales grew and margins improved; management expects the planned joint venture to be accretive to overall margins.
- Dealer inventory normalization and 2027 order intake were described as progressing in line with expectations.
- Management continues investment in precision agriculture, FieldOps, and Indian manufacturing capacity.
Management priorities
- Complete the construction joint venture and use proceeds to strengthen the balance sheet.
- Maintain production discipline and continue normalizing dealer inventories.
- Invest in precision agriculture technology, FieldOps, and the Indian tractor plant.
- Advance the Bourgault seeding alliance and explore further strategic partnerships.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$12.45Current
$10Low
$13.59Average
$19High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Nov 10, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Nov 10, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Nov 10, 2026 |
| Citigroup | Buy | Buy | Maintain | Nov 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | Nov 10, 2026 |
| Baird | Outperform | Outperform | Maintain | Nov 10, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Aug 20, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 4, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | May 11, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Feb 18, 2026 |
| UBS | Buy | Buy | Maintain | Jan 5, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Oct 22, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 16, 2025 |
| Northland Capital Markets | Outperform | Market Perform | Upgrade | Apr 11, 2025 |
| Bernstein | Outperform | Market Perform | Upgrade | Jan 6, 2025 |
Named analyst price targets
Upside is calculated against the persisted current price $12.44. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Bernstein | Chad Dillard | $12 | $12.24 | -3.6% | Nov 10, 2026 |
| Raymond James | Tim Thein | $15 | $12.82 | +20.5% | Nov 10, 2026 |
| Barclays | Analyst unavailable | $14 | $11.6 | +12.5% | Oct 19, 2026 |
| Industrial Alliance Securities | Analyst unavailable | $18 | $13.65 | +44.6% | Sep 2, 2026 |
| BMO Capital | Analyst unavailable | $12 | $10.8 | -3.6% | Aug 4, 2026 |
| Evercore ISI | Analyst unavailable | $12.25 | $10.86 | -1.6% | May 11, 2026 |
| Industrial Alliance Securities | Daniela Costa | $10.5 | $10.96 | -15.6% | May 11, 2026 |
| Truist Financial | Analyst unavailable | $16 | $10.78 | +28.6% | May 1, 2026 |
| D.A. Davidson | Michael Shlisky | $12 | $13.1 | -3.6% | Feb 19, 2026 |
| Robert W. Baird | Analyst unavailable | $13 | $13.09 | +4.5% | Feb 18, 2026 |
| Oppenheimer | Analyst unavailable | $16 | $13.09 | +28.6% | Feb 18, 2026 |
| Truist Financial | Jamie Cook | $12 | $10.7 | -3.6% | Jan 14, 2026 |
| Industrial Alliance Securities | Daniela Costa | $13 | $10.45 | +4.5% | Jan 14, 2026 |
| UBS | Analyst unavailable | $14 | $9.47 | +12.5% | Jan 5, 2026 |
| Barclays | Analyst unavailable | $11 | $9.61 | -11.6% | Dec 22, 2025 |
| Industrial Alliance Securities | Tami Zakaria | $10 | $9.4 | -19.6% | Nov 27, 2025 |
| CFRA | Nazmi Ghazali | $11 | $9.58 | -11.6% | Nov 10, 2025 |
| Truist Financial | Jamie Cook | $13 | $9.58 | +4.5% | Nov 10, 2025 |
| Truist Financial | Analyst unavailable | $14 | $10.96 | +12.5% | Oct 8, 2025 |
| UBS | Analyst unavailable | $15 | $11.28 | +20.5% | Apr 22, 2025 |
| Morgan Stanley | Angel Castillo | $15 | $11.1 | +20.5% | Apr 16, 2025 |
| Robert W. Baird | Analyst unavailable | $15 | $12.15 | +20.5% | Mar 3, 2025 |
| Truist Financial | Jamie Cook | $17 | $12.06 | +36.6% | Dec 19, 2024 |
| Raymond James | Tim Thein | $14 | $10.8 | +12.5% | Sep 24, 2024 |
| Industrial Alliance Securities | Joel Jackson | $11 | $9.85 | -11.6% | Aug 8, 2024 |
| BMO Capital | Joel Jackson | $11 | $9.85 | -11.6% | Aug 8, 2024 |
| Northland Securities | Ted Jackson | $18 | $10.2 | +44.6% | Jun 13, 2024 |
| Goldman Sachs | Daniela Costa | $19 | $11.42 | +52.7% | Jan 17, 2024 |
Track every rating change on CNH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCNH Industrial N.V. operates as a multinational producer of heavy-duty industrial machinery, specializing in a diverse portfolio that includes both agricultural and construction equipment. A testament to its legacy, the highly recognized Case IH brand has been a trusted partner to farmers for generations. The company's reach is extensive, supported by a robust global distribution network comprising over 3,600 dealer and distribution outlets. To boost accessibility and sales, CNH also operates a dedicated financial services division, offering retail financing directly to end-customers and crucial wholesale funding to its widespread dealer base.
Historical context
All CNH earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TDG TransDigm Group Incorporated | FY2026 Q4 · Calendar Q4 2026 | +1.9% | +0.5% | TransDigm closes FY2026 with broad growth and sets a higher-investment FY2027 outlook |
| EMBJ Embraer S.A. | FY2026 Q3 · Calendar Q4 2026 | -49.4% | +7.0% | Embraer’s record Q3 and raised outlook meet a sharp EPS miss |
| RKLB Rocket Lab USA, Inc. | FY2026 Q3 · Calendar Q4 2026 | -79.5% | -1.0% | Rocket Lab Q3: Revenue Beat, EPS Loss Wider Than Expected |
| FERG Ferguson Enterprises Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.6% | +11.2% | Ferguson raises FY2026 outlook as industrial and HVAC sales accelerate |
| RBA RB Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.0% | +2.4% | RB Global raises FY2026 outlook as Q3 GTV and adjusted EBITDA grow |
Latest beats and misses
Who reports nextBeat on EPS
- VGFY2026 Q3 · November 10, 2026+92.7% EPS+1.7% move
- TDGFY2026 Q4 · November 10, 2026+1.9% EPS+0.5% move
- ONONFY2026 Q3 · November 10, 2026+39.9% EPS-7.5% move
- CRWVFY2026 Q3 · November 10, 20260.0% EPS-0.5% move
- OXYFY2026 Q3 · November 9, 2026+30.8% EPS+2.0% move
- MGREFY2026 Q3 · November 9, 2026+8.1% EPS+0.6% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
Get the CNH recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-11-09T21:07:08.941090+00:00
- FN2 earnings calendar · 2026-11-10T01:23:14.443147+00:00
- Polygon adjusted daily market bars · 2026-11-10T09:20:45.674596+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-10T09:20:45.671762+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-10. For educational purposes only; not investment advice.