Global Market Scan: Falling profits of key heavy machinery players

  • 📰 DCN_Canada
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 74%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Canada's construction news

However, major heavy machinery manufacturers Caterpillar and Komatsu expect declining profits compared to 2023.

Despite a solid outlook for the sector, major manufacturers of heavy construction equipment Caterpillar and Komatsu are experiencing challenges. With a strong dealer network and financial services division, Caterpillar has a varied product portfolio and a significant international presence. However, the company is facing increasing operating costs and decreasing profitability.

Caterpillar anticipates relatively lower revenues in the third quarter of 2024. However, profitability in the third quarter is forecast to remain intact year over year.predicts Caterpillar’s revenue to be $16.8 billion in the next quarter. 15 Yahoo analysts forecast the company’s annual revenue to grow from 2024 to 2025, with the current year’s revenue to be around $65.3 billion, moving to $67.2 billion for the following year.

In response to the earnings announcement released during the last week of June, financial analysts at Komatsu are projecting 2025 revenues of $26.5 billion USD, roughly in line with the previous 12 months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 17. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global investors pour into money market funds amid market volatilityThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market today: Dow slumps, Nasdaq whipsaws amid more soft labor market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, Nasdaq seesaw amid more soft jobs market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq, S&P 500 futures slide amid more soft jobs market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Labor market, Fed policy, tech rotation: Market trendsMarkets ended Wednesday's trading session mixed, as major indexes (^DJI, ^IXIC, ^GSPC) looked to recover from a tech-driven sell-off Tuesday. Yahoo Finance's...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Nvidia leads market slump, erasing $278B from its market capNvidia (NVDA), once a leader in chip stocks and tech rallies, has been hit by another sell-off on Tuesday, erasing $278 billion in market cap. Tuesday's sell...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »