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Caterpillar reports bigger quarterly loss

Caterpillar Inc (CAT.N), the world’s largest construction and equipment maker, reported a bigger fourth-quarter loss on Thursday, hurt by higher-than-expected restructuring costs.

The company’s loss ballooned to $1.17 billion, or $2.00 per share, in the quarter ended Dec. 31, from $94 million, or 16 cents per share, a year earlier.

Net sales fell 13.2 percent to $9.57 billion.

(Reporting by Rachit Vats in Bengaluru; Editing by Sriraj Kalluvila)

Reuters