The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe.
- Caterpillar global 3-mo. retail machine sales down 12% vs March 13% fall, Feb. down 21%
- North America machine sales down 11% after falling 8% in March
- Asia/Pacific sales April down 10% after falling 14% in March
- Latam sales April down 37% after falling 34%
- EAME (Europe, Africa, Middle East) sales April down 6% after falling 8%
- Power systems sales: April down 34% after falling 41%
Don't worry Gordon: there are always millions in buybacks to fix anything "bad"While some modest improvements were observed (i.e., the declines in Asia/Pac slights moderated in Resource Industries & were up for a second straight month in Construction), declines in North America look to be deepening in both Construction & Resources.
This seems to be a bad start for a company guiding to a back-end loaded rebound in 2016 sales.