CAT REVISES Q1 SALES ESTIMATE
Company sticks with original full-year goal of $44 billion.
Caterpillar warned today that due to the continuing commodity price slump and falling demand for its construction and mining equipment, it is cutting its first-quarter sales estimate about $1 billion.
In earlier earnings and revenue guidance, Cat predicted $10.4 billion for Q1. Cat said it now expects sales to be between $9.3 and $9.4 billion for the first quarter.
The company still supports its original full-year 2016 sales of up to $44 billion.
Source:seekingalpha.com
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