Caterpillar dealer sales figures tell a sad story
Caterpillar (NYSE:CAT), the world's mining and construction equipment provider, is expected to report some dismal numbers in its Q3 2013, to be released Wendesday.
If results are in tune with analysts' expectations, the firm will report a fourth-consecutive quarterly drop.
Thomson Reuters surveys show a predicted net income of $1.11 billion from $14.35 billion in revenue, International Business Times reports.
In Q3 2012, the company reported $1.7 billion net income and $16.45 billion in revenue.
Unaudited dealer sales data released on Tuesday shows "continued weak demand for its machinery and engine products," Reuters writes.
Shrinking demand from the Asia Pacific is a major contributor, with sales dropping by 24% in August.
But domestic demand tells a different, more optimistic story. North American dealer sales rose by 4% in September and 1% in August, according to Tuesday's filings with the Securities and Exchange Commission.
Every other region is down, with a global average drop of 9%.
These numbers have already taken a toll on some workers: Caterpillar has reduced its total workforce by 8% over the past year, according to Reuters.