Despite Missing Q4 Estimates, Caterpillar Sees Record Profit
Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent.
Caterpillar recently reported its quarter four and full-year earnings. The company’s quarter four earnings were reported at $2.55, missing estimates that called for $3.004 per share. Quarterly sales and revenue totaled $14.3 billion, an increase from the $12.9 billion in the fourth quarter of 2017. Full-year sales for 2018 came in at $54.7 billion which is a 20 percent increase from 2017.
“In 2018, Caterpillar achieved record profit per share and returned significant levels of capital to shareholders. Our global team remained focused on serving our customers, executing our strategy and investing for future profitable growth.” -Caterpillar Chairman and CEO, Jim Umpleby.
Looking ahead to the 2019 fiscal year, Caterpillar expects an increase in profit within the range of $11.75 to $12.75 per share.
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