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Caterpillar misses on Q3 EPS, revenue; Cuts full-year outlook

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Investing.com - " Global construction equipment manufacturer Caterpillar reported worse-than-expected third quarter earnings, prompting it to cut its full-year earnings outlook, it announced on Wednesday.

Earlier in the day, in its third quarter earnings report, Caterpillar said earnings per share came in at USD1.45, below expectations for USD1.67 per share.

The company's third quarter revenue totaled USD13.4 billion, missing expectations for revenue of USD14.47 billion.

Caterpillar reduced its full-year earnings outlook to USD5.50 per share, compared to a previous estimate of USD6.50 per share.

Following the release of the report, shares in Caterpillar tumbled 3.5% in pre-market trade.

Meanwhile, the outlook for U.S. equity markets was lower. The Dow Jones Industrial Average futures indicated a loss of 0.45% at the open, S&P 500 futures pointed to a decline of 0.55%, while Nasdaq 100 futures shed 0.6%.

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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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