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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Caterpillar Sales And Revenue Fall 18% 0 comments
    Oct 24, 2013 9:42 AM | about stocks: CAT

    Originally published at

    Filing in Focus: Caterpillar 8-K, October 23, 2013

    Caterpillar, Inc. (NYSE:CAT) announced its third quarter financial results for the fiscal year 2013, reporting an 18% drop in sales and revenue. The world's largest earth-moving equipment maker has struggled this year with a lack in demand for its products. In recent years Caterpillar has focused its merger and acquisition activity on the mining industry, in what the company felt would be a surge in demand from that industry. Unfortunately for the company, its mining customers, under increased budget and metal price pressures, have completely abandoned or delayed projects, which has resulted in a dramatic decrease in sales for Caterpillar. Earnings this quarter were $946M or $1.45 per share, down from $1.7B and $2.54 per share a year ago this quarter. These results have forced the company to decrease its annual guidance for the third time this year to $5.50 earnings per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: CAT
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