Caterpillar Q3 Earnings Take a Hit

October 22, 2015

Caterpillar third quarter 2015 sales and revenues were $11 billion, down from $13.5 billion in the third quarter of 2014.

Full-year earnings guidance was reduced to adjusted profit of $4.60 per share from $4.70, which the company forecast in July. Caterpillar also said that it now expects 2016 revenue to fall about 5 percent, with declines across each of its major segments including construction, energy & transportation and resources industries. 

In September, Caterpillar shares fell about 7 percent after announcing company-wide restructuring that would result in at least 10,000 layoffs.