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Stock Market & Financial Investment News

News Breaks
January 28, 2013
07:46 EDTCATCaterpillar sees Q1 sales, revenues significantly lower than year ago
The company says "While we are not providing a specific sales and revenues and profit outlook for 1Q13, we are expecting that sales and revenues in Q1 are likely to be significantly lower than 1Q12. The middle of our full-year outlook for sales and revenues is about $2B below 2012 sales and revenues. We expect that sales and revenues will decline more than $2B in the 1Q13 compared with 1Q12. Much of the expected decline in Q1 sales is a result of the continuation of reduced production as dealers are expected to continue to lower their new machine inventories. We expect that dealer inventory reductions will be negative to sales in 1Q13, while in 1Q12 dealers increased inventory which benefitted Caterpillar sales." Profit is also expected to be significantly lower in 1Q13 than in 1Q12a result of lower expected sales and the negative cost impact of continuing low production levels and declining inventory.
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