CAT sales in the oil and gas industry grow
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, announced today that its worldwide machine retail sales rose 25 per cent Y/Y for the rolling three-month period ending in June.
The positive results were driven by the company’s energy and transportation retail sales, which grew 14 per cent in the latest rolling three-month period. Such hike was mostly driven by a 30 per cent increase in sales in the oil and gas sector, a major consumer of reciprocating engines, turbines, diesel-electric locomotives, among other products. In the same segment, power generation sales grew by 12 per cent.
Sales in the mining sector, however, showed a decrease. In a statement, the Illinois-based firm reported declines of 4 per cent in the industrial segment, a consumer of equipment such as electric rope shovels, draglines, large wheel loaders, mining trucks, rotary drills, etc.
In terms of regions, CAT indicated that sales in the Asia Pacific region surged 37 per cent during the period, 29 per cent for Latin America, 22 per cent for North America and 19 per cent for Europe and the Middle East.