Caterpillar: Q3 Earnings Snapshot

IRVING, Texas (AP) — IRVING, Texas (AP) — Caterpillar Inc. (CAT) on Wednesday reported third-quarter net income of $2.46 billion.

On a per-share basis, the Irving, Texas-based company said it had profit of $5.06. Earnings, adjusted for restructuring costs, came to $5.17 per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.33 per share.

The construction equipment company posted revenue of $16.11 billion in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $16.35 billion.

Caterpillar shares have increased 31% since the beginning of the year, while the S&P’s 500 index has risen 22%. The stock has increased 60% in the last 12 months.

_____

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

Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up