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Caterpillar second quarter sales take a hit

caterpillar_mining.jpg
Kitmondo.com
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Flickr/Creative Commons

Peoria-based Caterpillar is reporting 2nd quarter adjusted profit per share of $1.27. It’s a 42 cent decrease from the second quarter of 2014. But it still topped analysts’ expectations by a penny.    

Sales and Revenues posted at 12.3 billion dollars. That’s down 13 percent, in the second quarter of 2014 and is last down when compared with expectations.

The company is still expecting a challenging second half of the year. But CEO Doug Oberhelman says Caterpillar continues its “track-record of solid operational performance in the face of difficult conditions.”

The quarterly statement from the company says challenging global economic and industry conditions persist for the year, with severe weakness in mining, lower construction-related sales in China and Brazil and a decline in new orders for oil-related applications.