Construction sales down for Caterpillar in Q4
30 January 2025
Caterpillar has revealed that sales for its construction industries segment was US$6 billion in the fourth quarter of 2024, a decrease of $516 million, or 8%, compared with $6.5 billion in the fourth quarter of 2023.
HCCW coupler with P324 primary pulverizer (Photo: Caterpillar)
The world’s largest OEM by sales saw construction industries sales decline in the fourth quarter of 2024 compared to the same period last year by 14% in North America, 1% in Europe Middle East and Africa (EAME) and 2% in Asia Pacific. The only region to see growth was Latin America, which was up 6%.
Construction industries’ segment profit was $1.1 billion in the fourth quarter of 2024, a decrease of $361 million, or 24%, compared with $1.535 billion in the fourth quarter of 2023. The decrease was said by the company to be primarily due to unfavorable price realisation.
Caterpillar’s resource industries, which includes mining equipment, has total sales of $2.9 billion in the fourth quarter of 2024, a decrease of $280 million, or 9%, compared with $3.2 billion compared to the same quarter of 2023.
North American sales were down by 23% and in Asia Pacific by 7%. Latin America was up by 9% and EAME by 2%.
For Caterpillar as a whole, sales and revenues for the fourth quarter of 2024 were $16.2 billion, a 5% decrease compared with $17.1 billion in the fourth quarter of 2023.
For the full year, sales and revenues in 2024 were $64.8 billion, down 3% compared with $67.1 billion in 2023.
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