July 29, 2014 – Caterpillar's second-quarter net income rose 4.1 percent, as the company earned $999 million, versus $960 million in last year's second quarter. However revenue for the Peoria, Ill.-based company dropped 3.2 percent to $14.15 billion from $14.62 billion.The big issue? Mining equipment. That category fell 29 percent from a year ago in the second quarter. Sales to the company’s energy and transportation customers also fell, while demand for engines weakened. The one bright spot: construction, where sales rose 11 percent. Regionally sales fell in Latin America and the Asia Pacific region. This was somewhat offset by higher sales in North America. Sales for Europe, the Middle East and Africa were basically flat.
Cat is Up, But Down
- Written by Mark Kuhar