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Investing.com — Caterpillar (NYSE:CAT) fell 2% on Tuesday after reporting retail sales that continued falling in August.
Total machines retail sales dropped in all regions last month, with North America down the most, by 35%, the company said in an SEC filing. Caterpillar reported three-month rolling total machine retail sales through August fell 20% worldwide from a year ago, after falling 20% in July and 23% in June.
Resource industries retail sales dropped 27%, after declining 19% in July. Construction industries retail sales declined 17% after falling 20% in July and 23% in June.
Energy and transportation retail sales worldwide fell 17% in August, after declining 16% in July and falling 18% in June.
On the upside, resource industries retail sales rose in Europe, Africa, Commonwealth of Independent States and Middle East, while construction industry retail sales were higher in Asia/Pacific and Latin America.
Shares are up about 2% this year.
Caterpillar reported earnings per share of $1.03 compared to the expected 64 cents on sales of $10 billion, which beat the estimated $9.33 billion. The stock has eight buy ratings, seven holds and one sell.
