DEERFIELD, Ill. – Caterpillar, Inc. saw a 21% decrease in sales and revenue from the first quarter of 2020 compared to the same time period of 2019, numbers released Tuesday show.
The company took in $10.6 billion in sales and revenues in Q1 of 2020, compared to $13.5 billion in Q1 of 2019.
CAT officials attributed that decline mainly to lower sales volume because of lack of low-end demand and a decrease in dealer inventory.
First quarter operating profit margin for 2020 was 13.2%. That number was 16.4% in Q1 2019.
2019’s first quarter profit-per-share was $3.25. The profit-per-share figure decreased to $1.98 for the first quarter of 2020, marking a 39% difference.
The company said because of the uncertainty surrounding the global COVID-19 situation, it would not be releasing its usual financial forecast.
