Caterpillar, Inc. (CAT) reported a revenue miss in the fourth-quarter earnings last week indicating “global economic uncertainty.” The company reported an Adjusted EPS of $2.63 per share in comparison to an estimate of $2.37 by analysts’. Revenue declined 8% year over year to $13.144 billion, below the estimate of $13.412 billion.
Chairman and CEO Jim Umpleb stated, “We expect continued global economic uncertainty to pressure sales to users in 2020 and cause dealers to further reduce inventories. We have improved our lead times and remain prepared to respond quickly to any positive or negative changes in customer demand.”
The industrial giant forecasted weaker-than-expected guidance for full-year 2020 with earnings per share of $8.50 to $10 versus expectation of $10.63.
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.
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