Caterpillar Inc. shares rose 3% premarket Thursday, after the company reported better-than-expected earnings for the fourth quarter and offered upbeat guidance for 2018. The agricultural and mining equipment maker said it had a loss of $1.299 billion, or $2.18 a share, in the fourth quarter, wider than the $1.171 billion loss, or $2.00 a share, posted in the year-earlier period. The number includes a $2.4 billion charge related to tax reform, equal to $3.91 a share. Excluding that charge, the company had EPS of $2.16, ahead of the FactSet consensus of $1.77. Sales rose to $12.9 billion from $9.6 billion, also ahead of the FactSet consensus of $11.8 billion. “After four challenging years, many key markets improved in 2017, and our global team delivered strong results,” Chief Executive Jim Umpleby said in a statement. The company is expecting growth in many end markets in 2018 and will implement a new strategy focused on profitable growth, he said. The company is expecting 2018 EPS of $7.75 to $8.75, or $8.25 to $9.25 on an adjusted basis. The FactSet consensus is for full-year EPS of $8.15. Shares have gained 72% in the last 12 months, while the S&P 500 has gained 23%.
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