Caterpillar: Q2 Earnings Snapshot
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Tuesday reported second-quarter earnings of $1.67 billion.
On a per-share basis, the Deerfield, Illinois-based company said it had net income of $3.13. Earnings, adjusted for restructuring costs, came to $3.18 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3 per share.
The construction equipment company posted revenue of $14.25 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $14.3 billion.
Caterpillar shares have declined nearly 6% since the beginning of the year, while the S&P’s 500 index has decreased 14%. The stock has dropped nearly 6% in the last 12 months.