Boodor is Your Go-to Source for the Latest Business News, Stay Informed and Make Informed Decisions.
⎯ 《 Boodor • Com 》

CNH Industrial lowers 2023 guidance on worsening market conditions

2023-11-07 20:54
Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing the softening of
CNH Industrial lowers 2023 guidance on worsening market conditions

Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing the softening of end market conditions predominantly in South America.

The Italian-American company guided for an increase in its net revenue from industrial activities of between 3-6% this year, versus a previous forecast of 8-11%.

CNH posted a 1% yearly decline in net sales from industrial activities for the third quarter to $5.33 billion.

Its Milan-listed shares turned negative after the results were published and were automatically halted from trading after falling 5.3% by 1235 GMT.

(Reporting by Alessandro Parodi and Bianca Flowers, editing by Kirsten Donovan)