Revenues down 22% for Caterpillar
By Leila Steed29 January 2021
Caterpillar has published its full year financial results, which show its 2020 sales and revenues figure of US$41.7 billion was down 22% on 2019’s $53.8 billion. The company said the lower sales were a result of lower end-user demand and the impact from changes in dealer inventories.
The fourth quarter of 2020 saw the company posting combined segment revenues of US$11.2 billion. This is down 15% from US$13.1 billion for the fourth quarter of 2019.