IRVING, Texas (AP) — IRVING, Texas (AP) — Caterpillar Inc. (CAT) on Tuesday reported second-quarter net income of $2.68 billion.
On a per-share basis, the Irving, Texas-based company said it had net income of $5.48. Earnings, adjusted for restructuring costs and non-recurring costs, were $5.99 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $5.53 per share.
The construction equipment company posted revenue of $16.69 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $16.76 billion.
Caterpillar shares have risen 7% since the beginning of the year, while the S&P’s 500 index has risen nearly 9%. The stock has increased 13% 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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