Thu, Oct 28, 2021 5:51 AM
DEERFIELD, Ill. (AP) _ Caterpillar Inc. (CAT) on Thursday reported third-quarter earnings of $1.43 billion.
On a per-share basis, the Deerfield, Illinois-based company said it had net income of $2.60. Earnings, adjusted for restructuring costs, came to $2.66 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The construction equipment company posted revenue of $12.4 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $12.57 billion.
Caterpillar shares have climbed almost 8% since the beginning of the year, while the S&P's 500 index has increased 21%. The stock has climbed 24% in the last 12 months.