Breaking News Bar
updated: 10/23/2013 7:38 AM

Caterpillar 3Q earnings tumble 44 percent

hello
Success - Article sent! close
  • Peoria-based Caterpillar says its third-quarter earnings plunged 44 percent, and the construction equipment maker cut its 2013 forecast again, partly because of weaker mining equipment sales.

      Peoria-based Caterpillar says its third-quarter earnings plunged 44 percent, and the construction equipment maker cut its 2013 forecast again, partly because of weaker mining equipment sales.
    Associated Press

 
Associated Press

Peoria-based Caterpillar says its third-quarter earnings plunged 44 percent, and the construction equipment maker cut its 2013 forecast again, partly because of weaker mining equipment sales.

The company says it earned $946 million, or $1.45 per share, in the quarter that ended Sept. 30. That compares with earnings of $1.7 billion, or $2.54 per share, in last year's quarter.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Revenue tumbled 18 percent to $13.42 billion.

Caterpillar Inc. now expects 2013 earnings of about $5.50 per share, down $1 from its previous forecast. It also dropped revenue expectation to about $55 billion from $56 billion to $58 billion. The company also lowered its earnings and revenue expectations when it reported second-quarter results in July.

Caterpillar shares fell almost 4 percent in premarket trading.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.