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Caterpillar 4Q sales slip, but results top Wall Street

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Caterpillar’s fourth-quarter sales dropped 15% as an unchecked pandemic continued to sap demand for big machinery, but the damage was not as bad as most had expected.

Sales were $11.24 billion, down significantly from last year's $13.14 billion, yet far better than Wall Street projections of $11.18 billion, according to a survey of analysts by Zacks Investment Research.

Construction sales fell 16% in North America and they were basically flat in Europe, Africa, and the Middle East. The Deerfield, Illinois, company earned $780 million, or $1.42 per share, in the quarter.

Excluding one-time charges, however, per share earnings were $2.12, which is 66 cents better than industry analysts had expected.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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