Caterpillar’s Earnings Highlight Mining Industry’s Challenges

On Wednesday, Caterpillar ( CAT )–one of the biggest manufacturers of construction and mining equipment–posted lower-than-expected quarterly results and cut its full year forecast. The bellwether cited weak demand from its mining customers, its most profitable product category, as the primary source of Caterpillar’s sour quarter. In 2014, Caterpillar estimates revenue will be essentially flat to +/-5% compared to 2013. For the year, the company now expects revenues to come in around $55 billion versus the previously forecasted $58 billion figure [for more commodity news and analysis subscribe to our free newsletter ]. See the full story here → Related Posts: A Deeper Look At China’s Commodity Industry The World’s Biggest Copper Producers 13 High-Yielding Commodities For 2013 A Deeper Look At Australia’s Commodity Industry A Deeper Look at South Africa’s Commodity Industry