Industrial Insight

CAT | January 27, 2014

http://www.bloomberg.com/news/2014-01-27/caterpillar-forecast-tops-estimates-amid-construction-recovery.html

Caterpillar Forecast Tops Estimates as Construction Recovers

By Shruti Date Singh Jan 27, 2014 9:18 AM CT

Speaking today in an interview on Bloomberg Television, Chairman and Chief Executive Officer Doug Oberhelman said that while the depth of the mining slump is “surprising,” the worst of the cost cuts for the company is “behind us.”

Caterpillar today forecast world economic growth at about 3 percent in 2014, up from about 2 percent last year. It predicted sales in its power systems and construction industries units will rise 5 percent. The resources segment, which consists mainly of mining equipment, will see revenue fall about 10 percent, it said.

Advertisements

Posted in Uncategorized

Leave a Comment »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: