{"id":1704,"date":"2016-07-27T23:07:08","date_gmt":"2016-07-27T23:07:08","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1704"},"modified":"2016-07-27T23:07:08","modified_gmt":"2016-07-27T23:07:08","slug":"caterpillar-experiences-2nd-quarter-profit-drop","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/27\/caterpillar-experiences-2nd-quarter-profit-drop\/","title":{"rendered":"Caterpillar experiences 2nd quarter profit drop"},"content":{"rendered":"

CATERPILLAR has released its second quarter results, showing a drop in both profit and revenue<\/a>.<\/b><\/p>\n

Compared to 2015, profit declined to US$10.342 billion ($13.82 billion) from US$12.317 billion while profit per share, excluding restructuring costs, declined from US$1.40 to US$1.09.<\/p>\n

However, Caterpillar CEO Doug Oberhelman said he was pleased with his company\u2019s financial<\/a> performance and focus on its long-term strategy \u201cgiven the difficult economic and industry environment we\u2019re facing\u201d.\u201cFor the quarter, our decremental operating profit<\/a> pull through was better than our target range. Together with our dealers, we\u2019re having success managing through the downturn in industries like mining and oil and gas, and in sluggish economic conditions in much of the developing world,\u201d he explained. \u201cIn what is likely to be our fourth down year for sales and revenues, we\u2019re proud of what we\u2019re accomplishing \u2013 our machine market position has increased, including in China, product quality continues to be at high levels, and the safety in our facilities is world class.\u201dHowever, Oberhelman said the company was cautious entering the second half of 2016. He explained there was no expectation of an upturn in important industries like mining, oil and gas, and rail.<\/span>\u201cAmidst these very challenging market conditions, our balance sheet remains strong, and our employees are delivering better performance on everything from safety, quality and cost management to machine market position. I\u2019m inspired by our people as they\u2019re the primary reason we\u2019re weathering this downturn as successfully as we are,\u201d he explained.<\/p>\n","protected":false},"excerpt":{"rendered":"

CATERPILLAR has released its second quarter results, showing a drop in both profit and revenue. Compared to 2015, profit declined to US$10.342 billion ($13.82 billion) from US$12.317 billion while profit per share, excluding restructuring costs, declined from US$1.40 to US$1.09. However, Caterpillar CEO Doug Oberhelman said he was pleased with his company\u2019s financial performance and … Continue reading “Caterpillar experiences 2nd quarter profit drop”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-1704","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-ru","jetpack-related-posts":[{"id":1783,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/10\/03\/caterpillar-launches-new-truck-at-minexpo\/","url_meta":{"origin":1704,"position":0},"title":"Caterpillar launches new truck at MINExpo","author":"yinghui","date":"October 3, 2016","format":false,"excerpt":"Caterpillar\u2019s newest large mining truck, the 794 AC, has made its mining debut at MINExpo 2016. 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