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Caterpillar (CAT) Beats on Q1 Earnings & Revenues Estimates

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Caterpillar  Inc. (CAT - Free Report) , the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, reported first-quarter 2018 results, wherein adjusted earnings of $2.82 surpassed the Zacks Consensus Estimate of $2.11 by a margin of 34%.
 
Revenue: Caterpillar posted revenues of $12.9 billion, handily beating the Zacks Consensus Estimate of $11.6 billion.
 
Earnings Estimates Revision: The Zacks Consensus Estimate for the first quarter has gone up 2% over the past 30 days. In the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average of nearly 52%.
 
Caterpillar Inc. Price and EPS Surprise
 
Caterpillar Inc. Price and EPS Surprise

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

Outlook: For 2018, Caterpillar projects adjusted earnings per share between $10.25 and $11.25, up from the prior guidance of $8.25 to $9.25 per share. This was driven by the upbeat first quarter results and growing demand across all regions and most end markets.

Zacks Rank: Currently, Caterpillar carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.

Market Reaction: Caterpillar shares gained 3.94% 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 Caterpillar’s earnings report!

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