CAT Stock: Caterpillar Inc Beats on Q4 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 fourth-quarter 2017 results, wherein adjusted earnings of $2.16 surpassed the Zacks Consensus Estimate of $1.77 by a margin of 22%.
Revenue: Caterpillar posted revenues of $12.9 billion, handily beating the Zacks Consensus Estimate of $11.9 billion.

Earnings Estimates Revision: The Zacks Consensus Estimate for fourth 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 53%.

Caterpillar, Inc. Price and EPS Surprise

Outlook: Caterpillar initiated adjusted earnings per share guidance range of $8.25 to $9.25 for fiscal 2018.

Zacks Rank: Currently, Caterpillar carries a Zacks Rank #1 (Strong 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 1.87% 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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