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UPDATE: Caterpillar Posts Downbeat Q3 Results, Lowers FY13 Forecast

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Caterpillar (NYSE: CAT) reported downbeat third-quarter earnings and cut its full-year view.

Caterpillar's quarterly earnings fell to $946 million, or $1.45 per share, from $1.70 billion, or $2.54 per share, in the year-ago period.

Its total sales declined to $13.42 billion from $16.45 billion. However, analysts were expecting earnings of $1.68 per share on revenue of $14.29 billion.

Caterpillar now projects 2013 profit of $5.50 per share on sales of $55 billion.

Caterpillar shares fell 3.89% to $85.70 in pre-market trading.

Posted-In: profitEarnings News Guidance

 

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