Caterpillar Inc. announced a revised revenue outlook for 2014, lowering its previous forecast due to softening sales figures. The company now projects revenue to be in the range of $54 billion to $56 billion.

The revised forecast reflects a number of factors, including:

• Slower growth in emerging markets
• Decreased demand in the mining sector
• Uncertainty in the global economy

Despite the reduced revenue outlook, Caterpillar remains focused on controlling costs and improving operational efficiency. The company is also investing in new products and technologies to drive future growth.

“We are managing the business with the assumption that these challenging conditions will persist,” said a company spokesperson. “We remain committed to delivering value to our shareholders through disciplined capital allocation and a focus on long-term growth.”