Caterpillar Inc. recently released its first-quarter 2020 financial earnings. Sales and Revenue decreased by 21% to $10.6 billion (1Q2019: $15.5 billion), and profit per share was down by 39% to $1.98 (1Q2019: $3.25). The company reported a 36% decline in its operating profit to $1.4 billion (1Q2019: $2.2 billion), which resulted in an operating profit margin of 13.2% (1Q2019: 16.4%).
Caterpillar’s reported that its financial results for the remainder of 2020 would be impacted by continued global economic uncertainty resulting from the COVID-19 pandemic. As such, Caterpillar withdrew its earnings guidance on 26 March 2020.
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