DEERFIELD, Ill. – Caterpillar, Inc. saw a 23% decline in sales and revenue from the third quarter of 2020 compared to the same time period of 2019, numbers released Tuesday show.
The company took in $9.9 billion in sales and revenues in Q3 of 2020, compared to $12.8 billion in Q3 of 2019.
Much like the Q1 and Q2 decreases, CAT officials attributed that decline mainly to lower end-user demand and the impact from changes in dealer inventories.
Third quarter operating profit margin for 2020 was 10%. That number was 15.8% in Q3 2019.
2019 third quarter profit-per-share was $2.66. The profit-per-share figure decreased to $1.22 for the third quarter of 2020, marking a 54% difference.
Because of the ongoing uncertainty surrounding the COVID-19 pandemic, the company continued to forego any financial outlook.
