Caterpillar Q4 Profit Surges 60%; Forecast Ahead of View (CAT)


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Construction and mining equipment maker Caterpillar Inc. ( CAT ) on Thursday posted a sharp uptick in fourth quarter earnings on record sales.

The Peoria, IL-based company reported fourth quarter net income of $1.55 billion, or $2.25 per share, compared with $968 million, or $1.47 per share, in the year-ago period. Excluding one-time acquisition costs, adjusted profit was $2.32 per share.

Revenue rose 35% from last year to $17.24 billion.

On average, Wall Street analysts expected much lower profits of $1.76 per share, on lesser revenue of $15.95 billion.

Looking ahead, CAT predicted full-year 2012 earnings to total $9.25 per share, which would beat Wall Street expectations for $9.07 per share.

Caterpillar shares rose $3.27, or +3%, in premarket trading Thursday.

The Bottom Line
Shares of Caterpillar ( CAT ) have a 1.69% dividend yield, based on last night's closing stock price of $109.05. The stock has technical support in the $100 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $116 a share.

Caterpillar Inc. ( CAT ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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