Investing.com - Caterpillar (NYSE:CAT) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Caterpillar announced earnings per share of $1.6 on revenue of $10.64B. Analysts polled by Investing.com anticipated EPS of $1.69 on revenue of $10.96B. That with comparison to EPS of $2.94 on revenue of $13.47B in the same period a year before.Caterpillar had reported EPS of $2.63 on revenue of $13.14B in the previous quarter.Analysts are expecting EPS of $0.73 and revenue of $10.09B in the upcoming quarter.
Caterpillar shares are down 21% from the beginning of the year and are trading at $115.20 , down-from-52-week-high.They are under-performing the S&P Global (NYSE:SPGI) 100 which is down 9.91% year to date.
Caterpillar follows other major Capital Goods sector earnings this month
Caterpillar's report follows an earnings missed by ASML ADR on Wednesday, April 15, 2020, who reported EPS of $0.93 on revenue of $2.44B, compared to forecasts EPS of $1.47 on revenue of $3.17B.
Lockheed Martin had beat expectations on Tuesday, April 21, 2020 with first quarter EPS of $6.08 on revenue of $15.65B, compared to forecast for EPS of $5.81 on revenue of $15.08B.
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