Caterpillar shares jump as construction spending powers Q3 earnings beat

posted much stronger-than-expected third quarter earnings Tuesday, thanks in part to higher construction equipment demand linked to the ongoing support from government infrastructure spending.

Group revenues, Caterpillar said, rose 12.1% to $16.8 billion, a figure that topped analysts' estimates of a $16.52 billion tally. Operating profit margin was 20.5% for the quarter, well ahead of the 16.2% tally recorded last year but down from 21.1% over the three months ending in June. Caterpillar shares were marked 3.25% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $250.00 each.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Caterpillar earnings: What to expect from the construction equipment makerInvestors seem to have prepped for a disappointing Q3 report, while Wall Street analysts are expecting something bullish
Source: MarketWatch - 🏆 3. / 97 Read more »

Caterpillar Earnings Will Be All About the BacklogCat reports Tuesday morning. Wall Street is looking for earnings per share of $4.80 from sales of $16.6 billion.
Source: MarketWatch - 🏆 3. / 97 Read more »