Caterpillar’s Record Profit Beats View, but Revenue Misses (CAT)


Shutterstock photo

Construction and mining equipment maker Caterpillar Inc ( CAT ) on Wednesday released first quarter profit results that beat Wall Street estimates, although its revenue total fell short of expectations.

The Peoria, IL-based company reported first quarter net income of $1.6 billion, or $2.37 per share, compared with $1.2 billion, or $1.84 per share, in the year-ago period.

Revenue rose 23% from last year to $16 billion.

On average, Wall Street analysts expected a much smaller profit of $2.13 per share, albeit on higher revenue of $16.2 billion.

Looking ahead, CAT said it now expects full-year earnings of $9.50 per share, up from a prior outlook of $9.25 per share.

Caterpillar shares fell $1.25, or -1.2%, in premarket trading Wednesday.

The Bottom Line
Shares of Caterpillar ( CAT ) have a 1.70% dividend yield, based on last night's closing stock price of $108.40. The stock has technical support in the $100-$101 price area. If the shares can firm up, we see overhead resistance around the $110-$116 price levels.

Caterpillar Inc ( CAT )s not recommended at this time, holding a DARS™ Rating of 3.4 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.

Created by

This article appears in: Investing , Stocks

More from

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by