February 7, 2020 / 1:24 PM / 19 days ago

CNH Industrial slashes guidance on 2020 earnings in challenging market

MILAN, Feb 7 (Reuters) - Italian-American machinery maker CNH Industrial cut its forecast for 2020 earnings on Friday, as uncertain market conditions were expected to persist across all business segments.

The company, which makes most of its profit from farming machinery, Iveco commercial vehicles, construction equipment and powertrains, said it expected its adjusted earning per share would amount to between $0.78-$0.86 this year.

That is well short of a previous guidance of $0.95-$1 the company provided in September.

Milan-listed shares in CNH Industrial extended losses after results, and were down 4.7% by 1315 GMT.

Reporting by Giulio Piovaccari

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