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Caterpillar Sinks On Q4 Earnings Miss

Caterpillar Sinks On Q4 Earnings Miss

Caterpillar Inc. (NYSE: CAT) sunk after announcing fourth-quarter earnings misses.

Management reported a bottom line of $2.55 against $2.99 estimates, with revenue of $14.3 billion falling shy of $14.33 forecasts.

While underperforming Street expectations, Caterpillar still chalked up progress. The earnings per share represents an 18.1-percent increase over the same quarter last year. Top-line results rose 10.9 percent year-over-year.

The full year closed with $54.7 billion in revenues (up 20 percent) and adjusted EPS of $11.22.

"In 2018, Caterpillar achieved record profit per share and returned significant levels of capital to shareholders," said Caterpillar Chairman and CEO Jim Umpleby. "Our global team remained focused on serving our customers, executing our strategy and investing for future profitable growth."

Additionally, management released more bullish guidance than analysts expected. It projects EPS of $11.75 to $12.75 for the 2019 fiscal year. Consensus anticipates just $12.64.

Shares closed at $124.37, down 9.1 percent.

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