November 6, 2019 / 1:26 PM / 5 days ago

CORRECTED-CNH Industrial cuts revenue guidance for second time

(Corrects previous sales guidance in 2nd paragraph)

MILAN, Nov 6 (Reuters) - Italian-American machinery maker CNH Industrial trimmed its forecast for full-year revenue for a second time this year after lower sales volumes and exchange rate factors weighed on results in the third quarter.

The company, which makes most of its profit from farming machinery, Iveco commercial vehicles, construction equipment and powertrains said net sales of industrial activities would come in between $26.5 and $27 billion this year, versus an already-trimmed previous guidance of between $27 billion and $27.5 billion.

CNH Industrial, whose main shareholder is Exor, the holding group of Italy’s Agnelli family, said in September it would split in two and list its truck, bus and engine division in an effort to boost asset values and streamline its businesses.

Milan-listed shares in CNH Industrial were down 2.21% by 1318 GMT.

Reporting by Giulio Piovaccari; editing by James Mackenzie

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