Caterpillar said on Wednesday that the tariffs could increase its first-quarter sales of its equipment to reduce the demand for its equipment to increase its second-three-thymocratic cost of $ 350 million.
There is a lot of uncertainty about President Donald Trump’s trade war. On Tuesday, Trump signed an order by relaxing some US tariffs on auto and auto parts imports. However, the extensive tariffs on Trump still remains unclear what impact on the US economy
In the first quarter, the revenue of the caterpillar dropped from $ 15.8 billion to $ 14.25 billion a year ago. This performance has declined compared to the $ 14.54 billion expected analysts surveyed by Jacks Investment Research.
Sale volume has declined $ 1.1 billion. Dealer inventory in the quarter has increased $ 100 million, which has decreased significantly from the increase of $ 1.4 billion during the previous year.
Caterpillar has earned $ 2 billion per share for three months for the end of March 31 or 4 4.20 per share. A year ago, Irving, Texas-based company earned $ 2.86 billion or $ 5.75 per share.
Repeating costs, was 4 4.25 per earning share. Wall Street has missed $ 4.30 after the share that was looking for.
Caterpillar Inc. earlier this month. It has been announced that the Chairman and CEO D. James Umplby will be the Executive Chairman of the Third May 1. Chief Operating Officer Joseph will replace Creed Umplobi as CEO and will be a member of the board.
Umplobi served as CEO for eight years.
For the second trimester, the caterpillar says it predicts its sales as the previous year. When accounting is done for the expenditure effect of the current tariff level for the rest of the year, the company expects that the entire year sales will be slightly lower than the one year ago, which is consistent with its previous expectations.
Shares have increased by more than 3% before opening the market on Wednesday.
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