Caterpillar expected to report 1Q profit drop

Posted on

Caterpillar is expected to report its second consecutive drop in quarterly profits for the first time since 2009 when it reports first-quarter earnings.

Caterpillar has been hurt by an “over-supplied commodity environment” and a slowdown in China’s industrial economy, SeekingAlpha.com reported Goldman Sachs’ Jerry Revich as saying. Earnings per share is forecast to slump to $1.46 from $2.37 last year and revenue to drop 13.6 percent, to $13.80, according to Bloomberg.

Caterpillar, the world’s largest maker of construction equipment, said it will release first-quarter financial results at 6:30 a.m. CDT on April 22.

A real-time, listen-only teleconference of the quarterly results call that Caterpillar conducts with securities analysts and institutional investors will begin at 10 a.m. CDT that day.

Click here for the SeekingAlpha report and click here for the full release.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

Is the decision to move the Miami show to the Miami Marine Stadium a good one?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password