Caterpillar Forecast Disappoints as Oil Hits Orders
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Caterpillar Inc., the world’s largest mining and construction equipment maker, forecast 2015 sales and earnings that trailed analysts’ estimates as plunging oil prices signal lower demand from energy companies.
Earnings will be $4.75 a share excluding restructuring costs, the Peoria, Illinois-based company said in a statement on Tuesday. The average of 27 estimates compiled by Bloomberg was for $6.69 a share.