por admin » Jue Ene 25, 2018 7:48 am
Caterpillar earnings: $2.16 per share, vs. $1.79 EPS expected
Kevin Breuninger | @KevinWilliamB
Published 54 Mins Ago Updated 4 Mins Ago
CNBC.com
Caterpillar reported fourth-quarter earnings on Thursday.
The machinery manufacturing company reported earnings of $2.16 a share on revenue of $12.9 billion.
In the previous quarter, the company far exceeded the Street's expectations and raised its full-year sales and revenue projections.
Traffic is diverted on Foothill Road as workers place K-rail barricades along burn areas during a winter rain storm in Ventura, California, January 9, 2018.
Monica Almeida | Reuters
Traffic is diverted on Foothill Road as workers place K-rail barricades along burn areas during a winter rain storm in Ventura, California, January 9, 2018.
Caterpillar reported quarterly earnings and revenue that handily topped analysts' expectations on Thursday.
Here's how the company did compared with what the Street expected:
EPS: $2.16 per share vs. $1.79 expected, according to Thomson Reuters
Revenue: $12.9 billion vs. $11.98 billion expected, according to Thomson Reuters
The company's stock jumped nearly 4 percent in premarket trading following the report.
The machinery manufacturer was the second-best performing stock on the Dow Jones industrial average in 2017. For the fourth quarter, Caterpillar is expected to post year-over-year revenue growth of 25.1 percent in Thursday's report.
The company could also stand to benefit from the Republican tax overhaul signed into law in December. Analysts at J.P. Morgan Chase upgraded Caterpillar shares in January, crediting the Republican tax bill for their positive outlook on the company.
However, Caterpillar's current method of handling its taxes — namely, by using a Swiss subsidiary to slash its corporate rate — could be compromised in a $2 billion fight with the IRS.