CNH Global reported that its North American financial services subsidiary, CNH Capital net income in Q2/13 was $69 million, up 28% compared to $54 million in the same year-ago period. CNH said the increase was due to a higher average portfolio, stronger financial margins and lower provision for credit losses.

At Q2 end, CNH Capital’s managed asset portfolio stood at $12.8 billion, up 14% from $11.3 billion a year earlier

CNH Global said Q2/13 net income attributable to Financial Services increased 33% to $104 million compared to $78 million in Q2/12. CNH said increased results were primarily due to a higher average portfolio and a lower provision for credit losses.

CNH noted that Financial Service’s net on-book receivables were $17.1 billion at Q2/end compared to $15.8 billion at year-end 2012.

The following brief summary of CNH’s agriculture and construction equipment sales performance and outlook was excerpted from the news release:

CNH reported Q2/13 net sales of $5.5 billion, up 9% from $5.0 billion in Q2/12. CNH said agriculture net sales of $4.5 billion, was up 13% compared to the same quarter in 2012 while construction equipment net sales of $0.9 million was down 6%. CNH said construction equipment sales were down due to “challenging market conditions in most regions.”

In its full year 2013 market outlook, CNH said agricultural equipment unit volume is expected to be up approximately 5%, versus construction equipment unit volume, which is expected to be flat to down 5%.

To read the full CNH news release click here.