This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
North American sales are down 16% in May, slightly better than the 18% drop in April, but worse than the 11% decline in March. Sales also are improving in Asia/Pacific.
Latin America remains the company’s only bright spot, with sales up 22% in May following a 28% rise in April and a 12% rise in March.
Caterpillar lowered its fiscal year revenue and earnings outlook in April to a revenue range of $57 billion to $61 billion and earnings per share (EPS) of around $7.00. The company’s previous outlook had called for revenues of $60 billion to $68 billion and EPS in the range of $7.00 to $9.00. The company’s outlook for mining equipment sales is down about 50% compared with 2012 sales.
Shares of Caterpillar are down about 1.3% in the late morning today, at $83.18 in a 52-week range of $78.25 to $99.70.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.