Caterpillar Dealer Sales Decline SlowsElena Popina
Caterpillar Inc., the biggest maker of construction and mining equipment, said dealer machinery sales fell at a slower pace in three months through June.
The decline was 10 percent compared with the same period a year earlier, the Peoria, Illinois-based company said today in a filing. Sales were down 12 percent in the three months through May.
For Caterpillar’s resources industries segment, sales dropped 38 percent, compared with a 46 percent decline in the three months through May.
For construction industries, sales growth slowed to 3 percent in the most recent three months, from 4 percent in the period through May. Within that segment, the decline in Asia-Pacific sales accelerated to 17 percent.
The shares dropped 1.2 percent to $108.76 at 9:40 a.m. in New York. They have gained 20 percent in 2014.
Caterpillar is due to report second-quarter earnings tomorrow before the start of trading.