Caterpillar (CAT) Q3 Earnings, Revenue Top Estimates

Caterpillar Inc. CAT, the largest global manufacturer of construction and mining equipment, reported third-quarter 2020 results, wherein adjusted earnings of $1.34 beat the Zacks Consensus Estimate of $1.15.

Revenue: Caterpillar posted revenues of $9.9 billion in the quarter, which beat the Zacks Consensus Estimate of $9.7 billion.

Outlook: Caterpillar has not provided any guidance for 2020 amid uncertainty related to the impact of the COVID-19 pandemic.

Estimates Revision: The Zacks Consensus Estimate for third quarter has gone up 3% over the past 30 days. In all of the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average positive surprise of 13.1%.

Caterpillar Inc. Price and EPS Surprise

Caterpillar Inc. Price and EPS Surprise

Caterpillar Inc. price-eps-surprise | Caterpillar Inc. Quote

Zacks Rank: Currently, Caterpillar carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction: Caterpillar’s shares dipped 2.4% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on this Caterpillar earnings report later!

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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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