Weak Markets, Strong Dollar Hurt CNH in 1Q

CNH Global, parent of Case IH and New Holland farm and construction equipment, reported on April 23 that it lost $126 million in the first quarter of 2009 on a 25.2% drop in sales. The company attributed the falloff to the sluggish U.S. economy, the strong U.S. dollar and weak international markets.

The firm’s 2009 first-quarter loss equated to $0.53 per diluted common share on sales of $3.05 billion. That compares to a year-ago gain…

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