Caterpillar: 3Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Wednesday reported third-quarter earnings of $1.49 billion.
On a per-share basis, the Deerfield, Illinois-based company said it had profit of $2.66.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.82 per share.
The construction equipment company posted revenue of $12.76 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $13.38 billion.
Caterpillar expects full-year earnings in the range of $10.59 to $11.09 per share.
Caterpillar shares have climbed 5% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has risen roughly 4% in the last 12 months.