Caterpillar Cuts 2018 Profit Forecast

Published on Tue, 09/25/2012 - 12:50
By FNNO Staff in analysis, business finance, caterpillar, earnings, eps, fnno, market, news, nyse:cat, stock, trading
analysis, business finance, caterpillar, earnings, eps, fnno, market, news, nyse:cat, stock, trading

Caterpillar (NYSE:CAT) lowered its profit forecast for 2015 to $12 to $18 per share, from $15 to $20 per share previously. The construction equipment maker also lowered its revenue projection to between $80 billion and $100 billion.

The company said the reason for the cut in forecast was due to the slower-than-expected growth in the global economy. For the current year, the company says it sees revenue to come in about $2 billion below its previously projected range of $68 billion to $70 billion.

Caterpillar's stock not fairing well so far in today's trading. Shares of the company are down 2 percent to $88.83.

By FNNO Staff
fnnonline@gmail.com

Most Popular Video News