WITH WEAK DEMAND for mining equipment, along with plunging oil prices in recent months, Caterpillar cut its 2015 profit outlook while reporting a 1-percent fall in revenue from 2013 to $52.1 billion. In its third quarter 2014 earnings report, the company said it expected to finish the year at $55 billion. During the fourth quarter, Caterpillar's energy business helped offset falling construction equipment sales and weakness in mining equipment orders due to lower copper, coal and iron ore prices.
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