Caterpillar: 3Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Tuesday reported third-quarter net income of $1.73 billion.
The Deerfield, Illinois-based company said it had profit of $2.88 per share. Earnings, adjusted for non-recurring gains, were $2.86 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.83 per share.
The construction equipment company posted revenue of $13.51 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $13.21 billion.
Caterpillar expects full-year earnings in the range of $11 to $12 per share.
Caterpillar shares have dropped 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 3 percent. The stock has dropped 2 percent in the last 12 months.