The fiscal outcomes of Caterpillar in 2019 was $53.8 billion, including sales and revenues, while this figure was US $41.7 billion in 2020 that consequences a 22% reduction in this company’s income. According to the company, the reasons of this reduction were: lower end-user demand and the impact from changes in dealer inventories.
In the last season of 2020, the company’s combined segment revenues were US $11.2 billion which saw a 15% decline compared to 2019’s fourth quarter income which was US$13.1 billion.
A 10% down of sales and revenues from US $5.02 billion to US $4.5 billion has been reported by the company’s Construction Industries segment for the same time last year.
Comparing the regional sales of this company shows that: the segment achieved sales of US $1.8 billion in North America, 16% lower than in 2019’s fourth quarter. While its Latin America incomes were down 21% compared to the previous year, in the Asia Pacific area the company reached sales of US $1.41 billion, just 4% less than 2019.
The Resource Industries segment of this company acted some better in 2020 comparing to the last 3 months of 2019. The Q4 sales, which involves quarrying and mining equipment, saw a quantity of $2.18 billion in 2020, that reduced 9% in 2019’s fourth quarter.
However, regionally the figures looked encouraging, with sales up to 8% in the Asia/Pacific market and 26% in the Latin America region.
Jim Umpleby, Caterpillar Chairman & CEO, stated: “I’m proud of our global team’s continued resilience in safely navigating Covid-19 while continuing to provide the essential products and services the world needs. Our fourth-quarter and full-year results reflect the team’s agility in a challenging environment while executing our strategy for long-term profitable growth.”
He also added: “We achieved the adjusted operating margin established during our 2019 Investor Day while continuing to invest in products and services. We are well-positioned for the future and will emerge from the pandemic as an even stronger company.”