CNH Industrial lowers 2023 guidance on worsening market conditions
07/11/2023 12:38
Nov 7 (Reuters) - Agricultural and construction
machinery maker CNH Industrial CNHI.MI CNHI.N 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)
((alessandro.parodi@thomsonreuters.com))