Caterpillar on earnings call
In sales, more than half the quarter over quarter sales decline was in resource industries which is principally mining. Resource industries sales were down 48% from Q4 of 2012, and that substantial decline was a result of both lower demand from mining customers and from changes in dealer inventory.
While resource industry sales in Q4 were well below Q4 of 2012, they were about the same as the previous quarter, and that was Q3 of 2013.
Sales in each of the past two quarters have been roughly 3 bln for resource industries... it's worth noting at this point that the 3 billion a quarter that we have seen for the past couple of quarters for resource industries is about where the co is expecting to average in the outlook for 2014. Probably a little below 3 billion a quarter in the first half and a little better in the second half.
While resource industry sales in Q4 were well below Q4 of 2012, they were about the same as the previous quarter, and that was Q3 of 2013.
Sales in each of the past two quarters have been roughly 3 bln for resource industries... it's worth noting at this point that the 3 billion a quarter that we have seen for the past couple of quarters for resource industries is about where the co is expecting to average in the outlook for 2014. Probably a little below 3 billion a quarter in the first half and a little better in the second half.