Caterpillar: Q2 Earnings Snapshot

August 2, 2022 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT