Caterpillar Sees FY18 Earnings Above Estimates - Quick Facts
(RTTNews) - While reporting its fourth-quarter financial results today, Caterpillar Inc. (CAT) provided its earnings outlook for fiscal 2018 above analysts' expectations.
For fiscal 2018, the company expects earnings in a range of $7.75 to $8.75 per share. Excluding restructuring costs of about $400 million, adjusted earnings per share is expected in a range of $8.25 to $9.25.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.19 per share for the year on revenues of $48.95 billion. Analysts' estimates typically exclude special items.
The company said that an expected increase in sales volume is the most significant reason for the higher profit outlook, with volume increases forecasted across the three primary segments.
Separately, Cat Financial reported a surge in profit for the fourth quarter to $271 million from $85 million in the year-ago period.
Revenue for the quarter rose 6 percent to $678 million from $642 million a year ago.
The increase in revenues was due to a $12 million favorable impact from higher average earning assets, a $9 million favorable impact from higher average financing rates and a $9 million favorable impact from lending activity with Caterpillar.