Monday, April 26, 2010

Caterpillar (NYSE:CAT) Revenue Down, Earnings Up

Caterpillar (NYSE:CAT) gave the Dow a boost today as its earnings exceeded expectations for the last quarter.

Earnings in the first quarter was 36 cents a share in contrast to the same quarter last year when they had a loss of 19 cents a share. Revenue for the quarter plunged by 11 percent though.

As usual, China was largely the impetus behind increased sales in some of the sectors of the company, particularly mining and construction equipment, including excavators and bulldozers.

Sales to mature countries remain weak as expected.

In probably the most important news for the company, Caterpillar did give positive guidance going forward, and that is what is more important than the numbers, as everything looks good after the disaster last year.

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