(Reuters) - CHICAGO, July 20 - Caterpillar Inc , the
world's top maker of earthmoving equipment, diesel engines and
gas turbines, said on Friday quarterly earnings fell more than
expected due to lower truck engine sales, weakness in North
American construction markets and higher production costs.
The results, which the company called disappointing, sent
Caterpillar shares down more than 8 percent in morning trading
and weighed on the whole market amid worry the profit miss
might be the first in a series from the heavy equipment
industry. But the consensus was that the issues holding back
Caterpillar were largely internal.
Read more at Reuters.com Market News
world's top maker of earthmoving equipment, diesel engines and
gas turbines, said on Friday quarterly earnings fell more than
expected due to lower truck engine sales, weakness in North
American construction markets and higher production costs.
The results, which the company called disappointing, sent
Caterpillar shares down more than 8 percent in morning trading
and weighed on the whole market amid worry the profit miss
might be the first in a series from the heavy equipment
industry. But the consensus was that the issues holding back
Caterpillar were largely internal.
Read more at Reuters.com Market News
No comments:
Post a Comment