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CAT’s first-quarter numbers beat Wall Street expectations

0 35 Economic

by The Associated Press last update:May 8, 2017

PEORIA, ILL. — Caterpillar Inc. (CAT) on April 25 reported first-quarter net income of $192 million.
CAT’s first-quarter numbers beat Wall Street expectations

On a per-share basis, the Peoria, Illinois-based company said it had profit of 32 cents. Earnings, adjusted for restructuring costs, were $1.28 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The construction equipment company posted revenue of $9.82 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $9.36 billion.

Caterpillar expects full-year earnings to be $3.75 per share, with revenue in the range of $38 billion to $41 billion.

Caterpillar shares have increased slightly more than four per cent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 per cent. The stock has risen 24 per cent in the last 12 months.

last update:May 8, 2017

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