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Bucyrus International, Inc.

Caterpillar posts lower results, cuts outlook yet again

Caterpillar Inc's ill-timed bet on the global commodity boom came back to haunt it yet again on Wednesday, forcing the heavy equipment maker to post a lower-than-expected profit.The company also cut its full-year forecast and offered a first glimpse of 2014 sales that suggested weakness from mining customers would continued to bedevil sales in the new year.The news sent the Peoria, Illinois-based company's shares down more than 6 percent in afternoon trading on the New York Stock Exchange.During a conference call to discuss the results, Caterpillar Chairman and Chief Executive Doug Oberhelman said he was confident mining customers would begin ordering again, but acknowledged he did not have any idea when that would happen.But in recent discussions with mining executives, Oberhelman said they had all made one thing clear: "Any expansion in the near term is dead, it's over, it's not going to happen."Mining equipment is Caterpillar's most profitable product category and those fat margins ...

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  1. Caterpillar, Steelworkers Union to Meet Next Week

    Caterpillar Inc. (CAT) and the United Steelworkers union agreed to meet next week, after resuming contract negotiations Thursday for union workers at mining equipmen...

  2. Talks suspended between Caterpillar, Milwaukee workers' union

    Caterpillar Inc said Thursday that a bid by the United Steelworkers Union to re-open contract talks on behalf of workers in Milwaukee who make mining machinery had n...

  3. Caterpillar, Union Break Off Talks on Milwaukee Plants

    Representatives for Caterpillar Inc. (CAT) and the United Steelworkers Union have suspended contract negotiations for mining machinery workers in Milwaukee after tal...

  4. USW Workers Reject Caterpillar Pay Offer

    Caterpillar Inc. (CAT) workers at a mining-equipment plant in South Milwaukee, Wis., rejected a pay offer from the company as their contract expired Tuesday.The Unit...

  5. Caterpillar, Workers Reach Tentative Deal

    About 800 Caterpillar Inc. (CAT) workers in South Milwaukee, Wis., are voting Tuesday on a six-year contract offer from the company.Leaders of the United Steelworker...

  6. Caterpillar, Workers Reach Tentative Deal On Contract -Report

    Caterpillar Inc. (CAT) and the United Steelworkers Union have reached a tentative agreement on a six-year contract for about 800 workers who assemble mining machiner...

  7. Caterpillar cries "uncle" on mining ; investors cry "buy"

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