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Caterpillar Lowers Sales Forecast as Rebound Proves Elusive

  • Adjusted earnings for third quarter beat analyst estimates
  • Sees mined commodity prices “flat to up modestly” next year
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Caterpillar Cautions on 2017 as It Cuts Sales Forecast

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Caterpillar Inc. cut its sales forecast for a fourth time and warned next year won’t be much different as miners and builders defer orders amid sluggish growth and low commodity prices.

Revenue this year will be about $39 billion, the Peoria, Illinois-based company said in a statement Tuesday, compared with previous guidance of $40 billion to $40.5 billion and the $40.1 billion average of 15 analysts’ estimates tracked by Bloomberg. Caterpillar hasn’t posted an annual sales gain since 2012.