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Caterpillar dealer sales fall 4% in fiscal Q1

Posted By Wayne Grayson On February 25, 2013 @ 10:17 am In Construction News | No Comments

caterpillar logo [1]Caterpillar recently reported that it saw worldwide dealer sales fall 4 percent in the three months ending January 31.

According to a Securites and Exchange Report reviewed by the Chicago Tribune [2], the company saw sales decline 11 percent in North America and 12 percent in the Asia/Pacific Region. Sales in Latin America were up 3 percent while sales in Europe, Africa and the Middle East rose 1 percent.

The company has said it expects dealers to cut inventory by $1 billion this year which would decrease sales by $2 billion. Caterpillar began slowing production last year as dealer orders decreased.

Recently, the company reported record sales, revenues and profits in 2012 [3]. However, the outlook in that report contained a great deal of caution for 2013. The company expects to see profit per share of $7.00 to $9.00 on sales and revenues within a range of $60 billion to $68 billion.

Caterpillar Chairman and Chief Executive Officer Doug Oberhelman said he expects a weaker first half of 2013 when compared to 2012, but hopes for a stronger second half.

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[1] Image: http://www.equipmentworld.com/files/2012/12/CaterpillarLogo.jpg

[2] reviewed by the Chicago Tribune: http://articles.chicagotribune.com/2013-02-20/business/chi-caterpillar-dealer-sales-show-slowing-growth-20130220_1_caterpillar-stock-stephen-volkmann-dealer

[3] the company reported record sales, revenues and profits in 2012: http://www.equipmentworld.com/caterpillar-reports-record-sales-revenues-profits-for-2012-despite-weak-fourth-quarter/

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