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Caterpillar Sees More Pain as Sales Fall Most in Five Years

For Caterpillar Inc., the commodities rout has yet to hit bottom.

Third-quarter profit fell more than forecast on the lowest sales in five years at the Peoria, Illinois-based company, as plunging commodity prices dim demand for mining and energy equipment. Next year’s sales to those industries will drop as much as 10 percent, Caterpillar said in a statement Thursday.

Slumping crude-oil prices have battered drillers, while a slowdown in China, the biggest consumer of energy and metals, has created a glut of metals, leaving mining customers with idled equipment. Global investment in copper mines will fall to $11.1 billion next year, the lowest since 2007 and less than a third of...