Caterpillar Inc. said global sales of machinery by its dealers
fell 14% for the three-month period ended in June.
The retail-sales update, which showed an even steeper drop from
the 12% decline in its first-quarter report, comes a day ahead of
Caterpillar's second-quarter earnings report.
Shares fell 2.1% to $80.53 in early trading.
Peoria, Ill.-based Caterpillar, the world's largest maker of
construction and mining machinery, has been facing a persistent
slump in mining equipment, sluggishness in construction machinery
in much of the world and a more recent slowdown in its most
profitable business, engines used for such things as generating
electricity, pushing gas through pipelines, running industrial
machines and powering trains and ships.
For the three months through June, Caterpillar's mining
worldwide equipment sales declined 13%, lead by a 38% drop in Latin
America, according to a regulatory filing.
Global construction equipment sales dropped 16%, also lead by
weakness in Latin America, where sales plunged 55%.
Energy and transportation segment sales declined 10%, driven by
transportation equipment sales, which slumped 36%.
Write to Tess Stynes at tess.stynes@wsj.com
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