BREAKING NEWS

Caterpillar profit falls 13.5%; cuts 2019 profit outlook

Caterpillar profit falls 13.5%; cuts 2019 profit outlook
FILE PHOTO: A Caterpillar logo is pictured on the skid-steer loader at the construction site In Warsaw, Poland June 1, 2017. REUTERS/Kacper Pempel -
Copyright
KACPER PEMPEL(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – Caterpillar Inc <CAT.N> reported a 13.5% fall in quarterly profit on Wednesday, hit by weak demand in its construction and resources units, and the company cut its 2019 profit forecast.

Profit attributable to common stockholders fell to $1.49 billion, or $2.66 per share, in the third-quarter ended Sept. 30, from $1.73 billion, or $2.88 per share, a year earlier.

Total sales and revenue fell 5.6% to $12.76 billion.

The world’s biggest construction and mining equipment maker cut its 2019 earnings expectation to $10.90 to $11.40 per share, compared with its previous estimate of $12.06-$13.06.

(Reporting by Rachit Vats in Bengaluru; Editing by Sriraj Kalluvila)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.