News Formal

Caterpillar shares jump as construction spending powers Q3 earnings beat

  • 📰 startelegram
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Italia Notizia Notizia

Caterpillar shares will provide a solid boost for the Dow after the construction equipment giant posted much stronger-than-expected third quarter earnings.

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.

 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 248. in İT

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

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
Fonte: MarketWatch - 🏆 3. / 97 Leggi di più »

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.
Fonte: MarketWatch - 🏆 3. / 97 Leggi di più »