Equipment sales fell across its business segments, but the company said the pace of decline was moderating, helped by a fast recovery in China and improvement in residential activity in North America.
Sales of Caterpillar’s autonomous technology for mining operations have been growing at a double-digit percentage clip this year, cushioning the fall somewhat of its traditional equipment sales.
The company reported a smaller-than-expected decline in second-quarter earnings, helped by lower manufacturing costs, even as the pandemic made customers wary of big equipment purchases.
