Caterpillar: 4Q Earnings Snapshot
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Monday reported fourth-quarter net income of $1.05 billion, after reporting a loss in the same period a year earlier.
The Deerfield, Illinois-based company said it had profit of $1.78 per share. Earnings, adjusted for one-time gains and costs, were $2.55 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.
The construction equipment company posted revenue of $14.34 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $14.37 billion.
Caterpillar expects full-year earnings to be $11.75 to $12.75 per share.
Caterpillar shares have increased roughly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 6 percent. The stock has declined 18 percent in the last 12 months.