» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 40 | NO. 30 | Friday, July 22, 2016

Caterpillar beats Street 2Q forecasts

Print | Front Page | Email this story

PEORIA, Ill. (AP) — Caterpillar Inc. (CAT) on Tuesday reported second-quarter profit of $550 million.

The Peoria, Illinois-based company said it had profit of 93 cents per share. Earnings, adjusted for restructuring costs, came to $1.09 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The construction equipment company posted revenue of $10.34 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $9.99 billion.

Caterpillar expects full-year earnings to be $3 per share, with revenue in the range of $40 billion to $42 billion.

Caterpillar shares have risen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has risen slightly more than 2 percent in the last 12 months.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0