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Caterpillar profit tumbles with world economy on lockdown

outbreak pandemic economy Coronavirus
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DEERFIELD, Ill. – Caterpillar's profits are down 46% with much of the global economy seized by the spread of the coronavirus pandemic.

The company has already withdrawn all financial guidance and said Tuesday that it expects that the outbreak will skew its performance throughout the year.

The heavy mining and construction equipment builder has been deemed essential by a number of central governments in maintaining infrastructure, and it's implemented new safety protocols to continue operations.

About 75% of its primary production facilities continue to operate as of mid-April. Caterpillar Inc. earned $1.09 billion, or $1.98 per share, for the three months ended March 31.

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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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