Caterpillar's rolling July retail machine sales drops 20%, but improves from June
Caterpillar Inc. (CAT) reported Friday rolling three-month retail sales data for July, which showed a deceleration in the declines from the previous month. Total machines sales were down 20%, after falling 23% in June, with the decline in North America sales improving to 38% from 40%. In the construction and mining equipment maker's resource industries, global sales fell 19% in July after declining 21% in June, while North America sales fell 49% in July after being down 46% in June. For construction industries, sales fell 20% globally after dropping 23% in June, and fell 35% in North America after declining 38% in June. In energy and transportation, retail sales fell 16% in July, after declining 18% in June. The stock, which slipped less than 0.1% in premarket trading, has lost 4.8% year to date through Thursday, while the Dow Jones Industrial Average has eased 2.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 14, 2020 09:23 ET (13:23 GMT)
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