Jan. 26--Caterpillar, the maker of construction and mining equipment, on Monday said worldwide dealer machinery sales fell 12 percent in the three months ended in December.
Total sales fell by 21 percent in the Asia-Pacific region and by 43 percent in Latin America. North American sales were flat.
Worldwide sales in its resources industries segment, mostly equipment used in mining, sank by 22 percent from the year-earlier period. Construction sales fell by 9 percent.
Analysts say weak sales could prompt dealers to further reduce inventory.
In a note to investors, Stephen Volkmann, an analyst with Jefferies Co., questioned Caterpillar's initial forecast of "flat to up slightly" 2015 revenues, noting that achieving it would require significant sales improvement. He added that major risks for Caterpillar include a slower-than-expected recovery in developed markets and slowing in emerging markets, including China.
Caterpillar is scheduled to report fourth-quarter earnings Tuesday. Analysts are expecting earnings of $1.55 per share on revenue of $14.18 billion, according to Yahoo
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acancino@tribune.com
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