Caterpillar sales fall 14%

Caterpillar said global sales of machinery by its dealers fell 14% for the three-month period ended in June.

The retail-sales update, which showed an even steeper drop from the 12% decline in its first-quarter report, comes a day ahead of Caterpillar’s second-quarter earnings report.

Shares fell 2.1% to $80.53 in early trading.

Caterpillar, the world’s largest maker of construction and mining machinery, has,like the rest of the industry,  faced a persistent slump in mining equipment, sluggishness in construction machinery in much of the world and a more recent slowdown in its most profitable business, engines used for such things as generating electricity, pushing gas through pipelines, running industrial machines and powering trains and ships.

For the three months through June, Caterpillar’s mining worldwide equipment sales declined 13%, lead by a 38% drop in Latin America, according to a regulatory filing.

Global construction equipment sales dropped 16%, also lead by weakness in Latin America, where sales plunged 55%.

Energy and transportation segment sales declined 10%, driven by transportation equipment sales, which slumped 36%.

Source

(Visited 79 times, 1 visits today)

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.