Caterpillar: Global Dealer Sales Down 39% In 3 Months To April

Caterpillar Inc. (CAT) said Wednesday that global machinery sales through retailers continued to weaken, down 39% in the three months to the end of April compared with year-ago data.

North America remained the weakest market, with a 51% fall from a year ago in the three-month rolling average of sales, compared with 41% in the period to March 31.

The trend in Asia Pacific was flat at down 21%, but sales to Europe, Middle East and Africa improved dramatically, according to a regulatory filing. A 4% decline in the three months to April 30 compared with a 44% fall in the prior period.

Global machinery sales, including its Cat Japan joint venture, were off 39% in the quarter to April 30 compared with 34% in the period to March 31 and 28% in the three months to end-February.

Sales of engines to dealers and manufacturers were down 9% in the April quarter, compared with a 2% decline in the period to March 31. Truck and bus engines suffered the sharpest fall, down 69%, but the positive trend in sales to the marine and oil and gas sectors intensified in the period to April 30.

Caterpillar shares were recently up 2.8% at $38.73.

-By Doug Cameron, Dow Jones Newswires; 312-750-4135; [e-mail]