Caterpillar stock dropped Monday after the company reported earnings that were significantly lower than expected.
Caterpillar expects the 201
"Our outlook presupposes a modest increase in sales based on the foundations of our various end markets as well as the macroeconomic and geopolitical environment," said President and CEO Jim Umpleby in a statement. xcellence, including cost discipline, while investing in expanded offerings and services to drive long-term profitable growth. "
The company said sales in the Asia-Pacific fell due to lower demand and unfavorable exchange rates.
In December, Washington and Beijing approved a cease-fire in the trade war and promised to cease adding trade tariffs for 90 days. until March 2, reach a decision.
The news in the ceasefire asked a large investment company to upgrade Caterpillar shares in December
Last quarter, Caterpillar's stock fell 7.5% to its lowest level since 2011 issued disappointing 2018 guide. The industrial giant said the cost was due to tariffs and increases in steel prices.
Caterpillar said the effects of material subsidy rates in the third quarter were $ 40 million.
The Illinois-based company told its dealers that prices would increase by 1 percent to 4 percent worldwide on machines and engines with some exceptions to comp. for higher material costs.
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