DEERFIELD, Ill. – Caterpillar, Inc. saw a 31% decline in sales and revenue from the second quarter of 2020 compared to the same time period of 2019, numbers released Friday show.
The company took in $10 billion in sales and revenues in Q2 of 2020, compared to $14.4 billion in Q2 of 2019.
Much like the Q1 decrease, CAT officials attributed that decline mainly to lower end-user demand and the impact from changes in dealer inventories.
Second quarter operating profit margin for 2020 was 7.8%. That number was 15.3% in Q2 2019.
2019’s second quarter profit-per-share was $2.83. The profit-per-share figure decreased to $.84 for the second quarter of 2020.
The company said because of the uncertainty surrounding the global COVID-19 situation, it would not be releasing its usual financial forecast.
