Daily Management Review

Caterpillar Upgrades ‘Profit Outlook’ For Its Worldwide Product Demand


07/30/2018


The quarterly profit performance of Caterpillar beats the analysts’ estimates.



Caterpillar Inc came out with “higher quarterly profit” which surpassed market expectations; as a result it has upgraded its “full-year profit outlook”, the reason being the worldwide demand for Caterpillar’s equipment.
 
The company based out of Deerfield, Illinois published its “an adjusted profit of $2.97 a share in the second quarter” which last year the same were “$1.49 a share” in comparison. Analysts had expected that an average the company’s earnings will be “$2.73” per share.
 
As mentioned earlier, the net profit of the quarter was at “$2.82” per share value while in comparison, last year it was only at “$1.35”. Furthermore, Reuters informed:
“The company now expects adjusted profit per share to be in a range of $11.00 to $12.00 in 2018, compared with $10.25 to $11.25 projected earlier”.
 
References:
reuters.com







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