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Caterpillar shares rise after earnings top expectations

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Caterpillar earnings come in at $2.63, vs $2.37 EPS expected, but shares fall

Industrial giant's quarterly earnings came in at $2.63 per share adjusted, compared to an estimate of $2.37 per Refinitiv. Its revenue was in line with expectations at $13.11 billion but fell 8% year-over year. CEO and chairman Jim Umpleby noted persisting risks around the world that weighed on the company's revenue.

"We expect continued global economic uncertainty to pressure sales to users in 2020 and cause dealers to further reduce inventories," Umpleby said in a statement. "We have improved our lead times and remain prepared to respond quickly to any positive or negative changes in customer demand." The heavy machinery manufacturer's stock edged up 1% in premarket trading Friday. Still, Caterpillar shares have fallen nearly 10% in January alone, following a 16% gain last year.

At the height of the U.S.-China trade war last year, Caterpillar's profits took a big hit from higher material costs, including tariffs.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

The market is rigged.

did they make the number by buybacks and accounting gymnastics...like so many others?

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 12. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

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