Shares of CNH Industrial N.V. plummeted 5.65% in pre-market trading on Tuesday, following the company's release of disappointing fourth-quarter earnings results and a revision to prior periods due to an immaterial correction to its financial statements.
The industrial equipment manufacturer reported adjusted earnings per share of $0.15 for the fourth quarter, missing the FactSet consensus estimate of $0.18. The earnings miss appears to be a major factor contributing to the stock's pre-market decline.
Additionally, CNH Industrial announced that it had revised prior periods to reflect an immaterial correction to its financial statements. While the impact of this accounting revision is currently unclear, it may have added to investor concerns, further weighing on the stock's performance.
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