Caterpillar adjusted profit meets Street's view, sales fall

Caterpillar adjusted profit meets Street's view, sales fall

(AP) — Caterpillar's first-quarter adjusted profit met Wall Street's view, even as sales declined across various categories while it continues to deal with soft product demand.

The mining and construction equipment company lowered its full-year profit forecast.

Removing restructuring costs, earnings were 67 cents per share.

The Peoria, Illinois-based company said the main reason for the increase in costs was because it decided to end production of on-highway vocational trucks.