Caterpillar Q1 Profits Higher; Raises 2015 EPS Outlook
APR 27, 2015 - 6:55 am
Caterpillar reported Q1/15 profit of $1,111 million, up 20% from $922 million a year earlier. Caterpillar noted that Q1/15 profit included a per-tax gain of $120 million on the sale of the remaining interest in its former third party logistics business. The company said Q1/15 sales and revenues were $12.70 billion, down 4% from $13.24 in Q1/14.
Caterpillar reported worldwide sales in its Construction Industries, Resource Industries (primarily mining) and Energy & Transportation Industries were $4,695, $1,928 and $4,762 million in Q1/15, down 7%, 9% and flat, respectively compared to the same quarter in 2014. The machinery maker noted, however, that sales in North America for the same industries were up 9%, 5% and 8%, respectively or $189 million, $35 million and $165 million compared to the same quarter in 2014.
In its 2015 outlook, Caterpillar revised its profit per share outlook to $5.00 per share including restructuring costs of about $250 million. This is compared to its previous profit per share outlook of $4.75 per share on the same basis.
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