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Caterpillar (CAT) Beats on Q2 Earnings & Revenues Estimates
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Caterpillar Inc. (CAT - Free Report) , the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, reported second-quarter 2018 results, wherein adjusted earnings of $2.97 surpassed the Zacks Consensus Estimate of $2.66 by a margin of 12%.
Revenue: Caterpillar posted revenues of $14.0 billion, ahead of the Zacks Consensus Estimate of $13.8 billion.
Earnings Estimates Revision: The Zacks Consensus Estimate for the second quarter has edged up 0.4% over the past 30 days. In the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average of nearly 33%.
Outlook: For 2018, Caterpillar projects adjusted earnings per share between $11.00 and $12.00, up from the prior guidance of $10.25 to $11.25 per share. This was driven by the upbeat first half results and growing demand across all regions and most end markets.
Market Reaction: Caterpillar shares gained 3.55% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Caterpillar’s earnings report!
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Caterpillar (CAT) Beats on Q2 Earnings & Revenues Estimates
Caterpillar Inc. price-eps-surprise | Caterpillar Inc. Quote
Outlook: For 2018, Caterpillar projects adjusted earnings per share between $11.00 and $12.00, up from the prior guidance of $10.25 to $11.25 per share. This was driven by the upbeat first half results and growing demand across all regions and most end markets.