The 2020 Mid-Year Economic Update_long

Caterpillar Sales Flat in 1Q

Construction industries sales grew 20 percent in first quarter.

Caterpillar Inc. (NYSE: CAT), Peoria, IL, reported sales for the first quarter of $13.2 billion, a slight increase year-over-year. Profit for the quarter increased 4.8 percent to $922 million.

“Given the business and economic uncertainties around the world and continuing decline in our mining sales, I am pleased with our performance in the first quarter," CEO Doug Oberhelman said. "Both energy & transportation and construction industries had good results in the first quarter and performed at levels better than we anticipated."

Construction industries sales were up 20 percent year-over-year, while energy & transportation sales were up 8 percent. Resource industries sales were down 37 percent, with all other segments sales up 7 percent.

Overall, machinery, equipment and transportation sales for the quarter were $12.5 billion, effectively unchanged year-over-year. Financial products sales were up 3 percent to $748 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com