Caterpillar Sales Dropped Last Quarter in Deepening Energy Slump
Caterpillar Reports Better-Than-Estimated Earnings
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Caterpillar Inc., the world’s biggest maker of mining and construction machinery, said retail sales declined in all global regions last quarter as a demand slump in its energy-equipment business deepened.
Receipts in its energy and transportation segment fell 32 percent from a year earlier in the three months ended in December, the Peoria, Illinois-based company said in a statement Wednesday. That compares with a 29 percent decrease in the three months ended in November, marking the seventh straight month of accelerating declines. Sales of all machinery fell 16 percent last quarter, led by a 48 percent drop in mining equipment in the Asia-Pacific region.