CAT June Sales Rise 11 Percent
NEW YORK (AP) — Caterpillar Inc. said Tuesday that its global sales rose 11 percent in June, boosted by higher North American demand that offset flat sales in Europe, Africa and the Middle East.
The world's largest maker of construction and mining equipment, based in Peoria, Ill., outlined its sales for the April-through-June period in a Securities and Exchange Commission filing. Its global sales also rose 11 percent in May, marking a slight slowdown from an April increase of 12 percent.
North American demand for Caterpillar's machines and power systems remained strong through the first two months of the quarter, rising 32 percent in April and 31 percent in May, but the sales growth slowed to 24 percent in June, the company said.
The effects of the economic slowdown in Europe also took a toll on the company's combined sales for Europe, Africa and the Middle East. Sales across that sales region grew 14 percent in April, but slowed to a 4 percent increase in May and were flat in June, the company said.
Meanwhile, Caterpillar's Asia Pacific sales grew 5 percent in both April and May, and jumped to 16 percent in June.
Caterpillar shares fell 56 cents to $81.02 in midday trading.