Caterpillar’s Second-Quarter Profit Declines

Caterpillar Inc.’s second-quarter profit fell to $960 million, or $1.45 a share, from $1.7 billion, or $2.54, a year ago, on lower sales.

Sales fell 16% to $14.6 billion, the heavy equipment maker said.

Caterpillar also revised its 2013 per-share outlook down to about $6.50 per share from $7, and said sales will be $56 billion to $58 billion, down from a previous outlook of $57 billion to $61 billion.

Caterpillar produces a line of severe-service trucks in partnership with Navistar International Corp.