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Diggers still in a hole, Caterpillar and Komatsu hope for a recovery

Earnings 489 Industrials - Capital Goods 469 Quote Watch 259 U.S. 4625

The construction equipment industry has had a tough pandemic. Caterpillar reported a 20.0% year over year slide in Q3 revenues, though the firm’s CEO James Umpleby has stated “end-user demand should improve into next year” as well as in Q4. Total U.S. seaborne imports of construction machinery and parts dropped by 10.9% year over year in Q3 and inched 0.2% higher in the first 15 days of October. Komatsu has stated the firm “assumes that demand will remain steady in China and will get back on a recovery track in North America, Japan and some other regions”. U.S. seaborne imports of constr...

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