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Caterpillar Q2 Earnings Were Better Than Wall Street’s Expectations

By John F. Heerdink, Jr.

Caterpillar, Inc. (CAT) reported Q2 earnings last month, beating expectations. Earnings per share dropped 70% to 84 cents, beating analyst expectations at 66 cents. Revenue dropped 31% to $10.0 billion. On March 26, Caterpillar had pulled guidance and didn’t offer any further forecasts. The company took the decision to maintain its $1.03 per share quarterly cash dividend but informed that the decision to raise it until later in the year remains uncertain.

“Nearly all of the company’s primary production facilities continued to operate,” as of mid-July, Caterpillar stated in its Q2 earnings release. “This continues to fluctuate as conditions warrant, including the pace of economic recovery and the potential for additional COVID-related temporary shutdowns.”

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. To learn more about Caterpillar, Inc. (CAT) and to continue to track its progress please visit the Vista Partners Caterpillar, Inc. Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Caterpillar Earnings Better Than Feared But CAT Stock Reverses Lower in Investor's Business Daily)


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