Caterpillar: 4Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Friday reported fourth-quarter earnings of $1.1 billion.
On a per-share basis, the Deerfield, Illinois-based company said it had profit of $1.97. Earnings, adjusted for non-recurring costs, were $2.63 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The construction equipment company posted revenue of $13.14 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $13.59 billion.
Caterpillar expects full-year earnings to be $8.50 to $10 per share.
Caterpillar shares have fallen slightly more than 8% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 2%. The stock has risen 4% in the last 12 months.