Comment on As pandemic depresses demand, Caterpillar muscles through 3Q

As pandemic depresses demand, Caterpillar muscles through 3Q

Caterpillar’s sales fell 23% in the third quarter as the pandemic throttled demand for construction equipment and a trade war with China continues to create headwinds. The company still managed to top Wall Street expectations, despite rising COVID-19 infections that hamper almost all sectors, including construction. Revenue declined to $9.88 billion from $12.76 billion a year earlier as dealers decreased inventories in all regions during the quarter, except for the Asia/Pacific region. Still, Caterpillar managed to beat the $9.67 billion analysts polled by Zacks Investment Research forecast. For the three months ended Sept.Read more on NewsOK.com

 

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