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.

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