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** Caterpillar's shares CAT.N up 2% at $313.61 premarket, swinging from a drop of nearly 7% earlier

** Construction equipment maker gives two forecast scenarios based on including and excluding impact of U.S. tariffs

** Expects 2025 sales to be flat vs 2024 if tariffs are not accounted for, or a slight drop after including tariff impact

** In Jan, it had forecast a slight decline in FY sales without giving a dual-scenario view

** CAT still expects a slight drop in FY sales, as well as an up to $350 mln cost impact in Q2

** Q1 adjusted EPS $4.25 misses analysts' estimate of $4.35, per LSEG, while revenue of $14.2 bln also falls short

** Stock down 15% this year, as of last close

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))