CNH Industrial Estimated 2024 Agriculture Industry Retail Sales To Be Down10%-15% But Now Projects Industry Volumes Down ~15%, At The Low End Of The Previous Range, Construction Equipment Industry Retail Sales Are Still Expected To Be Down Around 10% Y/Y
Portfolio Pulse from Benzinga Newsdesk
CNH Industrial has updated its 2024 forecast for the agriculture industry, now expecting retail sales volumes to decrease by approximately 15%, which is at the lower end of its previously estimated range of a 10%-15% decline. Additionally, the company maintains its projection for the construction equipment industry, anticipating a 10% year-over-year decrease in retail sales.
May 02, 2024 | 10:54 am
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CNH Industrial now expects a sharper decline in 2024 agriculture industry sales, projecting a ~15% drop, while construction equipment sales are anticipated to fall by 10% Y/Y.
The revised forecast by CNH Industrial indicating a sharper decline in agriculture industry sales for 2024 could lead to negative investor sentiment towards CNHI's stock in the short term. The confirmation of a 10% decline in construction equipment sales, although consistent with previous projections, further solidifies the expectation of reduced revenue streams in these sectors, potentially impacting the company's overall financial performance and stock price.
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