(Bloomberg) — The world’s biggest maker of mining and construction equipment is predicting that the pain from the coronavirus crisis is far from over.Caterpillar Inc. said the current quarter will be “more significantly impacted” by the virus after profits for the first three months of the year trailed analysts estimates. The Deerfield, Illinois-based company also shelved its traditional earnings forecast for 2020 as the fallout from the pandemic jolts customers in mining, construction and energy.Also read: Caterpillar 1Q Adjusted EPS $1.60 Vs. $2.94 Y/y, Est. $1.69Caterpillar is taking steps to slash costs and pare production in the face of deteriorating …read more
Source:: Yahoo Finance
