Investing.com - Global construction equipment manufacturer Caterpillar reported worse-than-expected fourth-quarter earnings and warned that 2013 will be a tough year, it announced on Monday.
Earlier in the day, in its fourth quarter earnings report, Caterpillar said earnings per share came in at USD1.04, significantly below expectations for USD1.70 per share.
The company’s fourth quarter revenue totaled USD16.08 billion, roughly in line with expectations for revenue of USD16.06 billion.
Caterpillar gave guidance for 2013 earnings in a range between USD7 to USD9 per share versus estimates of USD8.54 per shares.
"The range of our 2013 outlook reflects the level of uncertainty we see in the world today,” Caterpillar CEO Doug Oberhelman said.
Following the release of the report, shares in CAT declined 0.6% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow Jones Industrial Average futures indicated a gain of 0.1% at the open, S&P 500 futures pointed to an increase of 0.1% and Nasdaq 100 futures indicated an advance of 0.1% at the open.
Earlier in the day, in its fourth quarter earnings report, Caterpillar said earnings per share came in at USD1.04, significantly below expectations for USD1.70 per share.
The company’s fourth quarter revenue totaled USD16.08 billion, roughly in line with expectations for revenue of USD16.06 billion.
Caterpillar gave guidance for 2013 earnings in a range between USD7 to USD9 per share versus estimates of USD8.54 per shares.
"The range of our 2013 outlook reflects the level of uncertainty we see in the world today,” Caterpillar CEO Doug Oberhelman said.
Following the release of the report, shares in CAT declined 0.6% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow Jones Industrial Average futures indicated a gain of 0.1% at the open, S&P 500 futures pointed to an increase of 0.1% and Nasdaq 100 futures indicated an advance of 0.1% at the open.