Caterpillar reports 54per cent drop in quarterly earnings

FILE PHOTO: A row of excavators are seen at the Caterpillar booth at the CONEXPO-CON/AGG convention at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. March 9, 2017. REUTERS/David Becker/File PhotoIn the third quarter, the heavy equipment maker reported a profit of US$1.22 per share, down 54per cent from a year ago. Analysts surveyed by Refinitiv, on average, expected earnings of US$1.16 per share.

Caterpillar Chief Executive Jim Umpleby, however, said the company was witnessing"positive signs" in certain industries and geographies. Construction machine sales in Asia-Pacific, for example, were up 14per cent year-on-year in the latest quarter.

Business Business Latest News, Business Business Headlines

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

Wall Street futures rebound from Monday's selloff as earnings take center stageU.S. stock index futures edged higher on Tuesday following the benchmark S&P 500's worst day in a month as investors parsed through a deluge of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tokyo: Nikkei closes flat as upbeat earnings offset coronavirus woes[TOKYO] Japanese shares ended nearly flat on Tuesday, as strong earnings from camera and copy machine maker Canon helped counter weakness in travel and real estate stocks following a lower finish on Wall Street. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »