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Stock impact report

Caterpillar tops profit estimates as sales fall short [MarketWatch]

Caterpillar, Inc. (CAT) 
Last caterpillar, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: caterpillar.com/en/investors.html
Company Research Source: MarketWatch
Caterpillar Inc. said Tuesday it had net income of $1.092 billion, or $1.98 a share, in the quarter, down from $1.881 billion, or $3.25 a share, in the year-earlier period. The EPS number includes a pre-tax remeasurement gain of $254 million, or $0.38 per share, from the settlement of a non-U.S. pension obligation. EPS for 2019 includes a discrete tax benefit related to U.S. tax reform of $178 million, or $0.31 per share. Revenue came to $10.6 billion, down from $13.5 billion. The FactSet consensus was for EPS of $1.69 and revenue of $11.1 billion. The Deerfield, Ill.-based maker of construction and mining equipment has taken actions to reduce costs, cutting discretionary expenses and suspending 2020 base salary increases and short-term incentive compensation plans for many employees and all senior executives, the company said in a statement. Caterpillar's operations were deemed essential by many governments during the coronavirus pandemic although some facilities were temporarily clo Show less Read more
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