MW Caterpillar's stock falls after profit misses expectations again, to offset a raised outlook
Shares of Caterpillar Inc. $(CAT.AU)$ took a 3.2% hit in premarket trading Tuesday, after the construction- and mining-equipment company missed second-quarter profit expectations, to offset a sales beat and raised growth outlook.
For the quarter to June 30, net income fell 18.7% from the same period a year ago to $2.18 billion, while adjusted earnings per share, which excludes nonrecurring items, declined to $4.79 from $5.99 and were below the FactSet consensus of $4.89. That marked the second straight bottom-line miss, and third miss in four quarters.
Total sales slipped 0.7% to $16.57 billion, above the FactSet consensus of $16.30 billion, as an increase in sales volume was offset by the $414 million affect from lower prices.
Among Caterpillar's largest business segments, energy and transportation sales rose 7% top $7.34 billion while construction industries sales were down 7% to $6.68 billion.
The company said it expects third-quarter sales to "grow moderately" from a year ago, while the current average analyst revenue estimate compiled by FactSet of $16.01 billion implies 0.6% growth. For the full year, the company now expects sales to be "slightly higher" than 2024, up from previous guidance of about flat.
(This is breaking news. Check back for updates.)
-Tomi Kilgore
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August 05, 2025 06:39 ET (10:39 GMT)
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