July 31, 2020

Caterpillar reports big drop in profits amid murky outlook

New York (AFP) – Caterpillar reported a steep drop in second-quarter profits Friday amid weak demand from industrial clients and said its overall outlook remained clouded by the coronavirus.The global industrial machinery manufacturer reported a big drop in quarterly earnings and said it had yet to see a pickup in demand for mining equipment despite higher copper pricesThe company, which withdrew its full-year projection in March at the height of coronavirus lockdowns, said there are still too many unknowns to reinstate a forecast.”Our financial results for the remainder of 2020 will depend on…

source https://this.kiji.is/en/661949960364541025?c=648607265489716321

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