Caterpillar revenues take a hit

Caterpillar has published its full year financial results, which show its 2020 sales and revenues figure of US$41.7 billion was down a significant 22% on 2019’s $53.8 billion. The company attributed lower sales to lack of demand and the impact from changes in dealer inventories.

Results also tracked the impacts of COVID around the world with North America and Latin America showing double digit drops in Construction Industries revenue but Asia Pacific holding up with just a 4% drop from 2019 levels.

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