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Caterpillar Withdraws 2020 Outlook

Caterpillar Inc. (CAT) said its financial results for the first quarter and remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. Therefore, the company has withdrawn its financial outlook for 2020.

The company noted that its financial position remains strong. On a consolidated basis, the company ended 2019 with $8.3 billion of cash and available global credit facilities of $10.5 billion.

Caterpillar is temporarily suspending operations at certain facilities, due to uncertain economic conditions resulting in weaker demand, potential supply constraints and the spread of the COVID-19 pandemic and related government actions.

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