CATERPILLAR says its third-quarter earnings plunged 44 per cent, and the construction equipment maker cut its 2013 forecast again, partly because of weaker mining equipment sales.
The Peoria, Illinois, company says it earned $US946 million ($A976.72 million), or $US1.45 per share, in the quarter that ended September 30. That compares with earnings of $US1.7 billion, or $US2.54 per share, in last year's quarter.
Revenue tumbled 18 per cent to $US13.42 billion.
Caterpillar Inc. now expects 2013 earnings of about $US5.50 per share, down $US1 from its previous forecast. It also dropped revenue expectation to about $US55 billion from $US56 billion to $US58 billion. The company also lowered its earnings and revenue expectations when it reported second-quarter results in July.
Caterpillar shares fell almost 4 per cent in premarket trading.
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