Caterpillar: 2Q Earnings Snapshot
Posted Jul 31, 2020 07:17:21 AM.
Last Updated Jul 31, 2020 07:24:19 AM.
This article is more than 5 years old.
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Friday reported second-quarter earnings of $458 million.
On a per-share basis, the Deerfield, Illinois-based company said it had net income of 84 cents. Earnings, adjusted for non-recurring costs, came to $1.03 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The construction equipment company posted revenue of $10 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $9.2 billion.
Caterpillar shares have fallen slightly more than 7% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has climbed almost 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT
The Associated Press
