Caterpillar Reports Drop In Third-Quarter Profits

(Peoria, IL) — A drop in worldwide construction activity and declines in mining, oil and gas drilling are being blamed for slumping profits at Caterpillar. The Peoria-based company reported sales and revenues were eleven-billion-dollars during the third-quarter of 2015. That is two-and-a-half-billion dollars less than the same period last year.