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
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
August 05, 2025 06:39 ET (10:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。