On April 28, Caterpillar announced its first quarter earnings report for 2020 on its official website. In the first quarter of 2020, Caterpillar's revenue was 10.635 billion US dollars, a year-on-year decrease of 21%.
The decrease in revenue was due to the decline in end-user demand and the impact of changes in dealer inventory. Caterpillar said that the net cash generated from its main business this quarter was $ 1.13 billion. At the same time, the company has taken action to improve its strong financial position by increasing the source of liquidity. Taken together, Caterpillar had $ 7.1 billion in cash and $ 10.5 billion in global credit lines at the end of the first quarter. In addition, due to the impact of public health incidents, Caterpillar decided to withdraw its previously announced performance expectations.
