IRVING, Texas (AP) — IRVING, Texas (AP) — Caterpillar Inc. (CAT) on Thursday reported first-quarter profit of $2.86 billion.
On a per-share basis, the Irving, Texas-based company said it had net income of $5.75. Earnings, adjusted for restructuring gains, were $5.60 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.12 per share.
The construction equipment company posted revenue of $15.8 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $16.07 billion.
Caterpillar shares have increased 23% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 6%. The stock has risen 63% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT
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