Alexa
  • Directory of Taiwan

Caterpillar trumps Street 1Q expectations, raises forecast

Caterpillar trumps Street 1st qtr expectations, raises 2015 forecast as earnings soar 20 pct

Caterpillar trumps Street 1Q expectations, raises forecast

Caterpillar's first-quarter earnings jumped more than 20 percent to top expectations, even though revenue slipped for the construction and mining equipment maker.

The company's shares are soaring in early-morning trading after it also raised its 2015 forecast.

Caterpillar Inc. earned $1.11 billion, or $1.81 per share, in the quarter. That compares with $922 million, or $1.44 per share, last year.

Earnings in the latest quarter totaled $1.81 per share, not counting restructuring costs. That included a gain from a business sale.

Revenue slid 4 percent to $12.7 billion.

Analysts forecast earnings of $1.35 per share on $12.36 billion in revenue.

The Peoria, Illinois, company now expects an adjusted 2015 profit of $5 per share, up from its previous forecast for $4.75 per share.

Analysts predict $4.78 per share.


Updated : 2021-09-22 08:35 GMT+08:00