Caterpillar (CAT) came out with quarterly earnings of $5.99 per share, beating the Zacks Consensus Estimate of $5.53 per share. This compares to earnings of $5.55 per share a year ago.
Caterpillar (CAT) shares are rising in premarket trading Tuesday as the construction vehicle maker's second-quarter profits beat analysts' estimates, offsetting another quarter of revenue falling short of expectations.
As government initiatives continue to channel significant funds into revitalizing America's infrastructure, the appeal of infrastructure stocks seems more vibrant than ever. A notable driver behind this excitement is the Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law ( BIL ), signed into law in November 2021 and still running today.
Shares of Caterpillar Inc. CAT, -1.27% bounced 1.6% in premarket trading Tuesday, after the construction and mining equipment company reported second-quarter profit that beat expectations, while revenue missed again as changes in dealer inventories led to lower sales volumes. Net income fell to $2.68 billion, or $5.48 a share, from $2.92 billion, or $5.67 a share, in the same period a year ago.
In just a few months Americans will elect the next president of the United States. As it stands today, Vice President Kamala Harris is polling slightly ahead of Former President Donald Trump with a slim 1% lead.
Cat reports quarterly earnings Tuesday morning. Wall Street is looking for earnings per share of $5.54 from sales of $16.8 billion.
Caterpillar Inc. CAT is expected to release earnings results for its second quarter, before the opening bell on Tuesday, Aug. 6.
Caterpillar (NYSE: CAT) will report its Q2 2024 results on Tuesday, August 6. We expect the company's revenues to come in at $16.8 billion and adjusted earnings of $5.56 per share, both slightly above the consensus estimates.
Caterpillar stock is a top pick on my watch list, but I haven't purchased it yet. Many of Caterpillar's peers are painting a picture concerning investors. Caterpillar's Q2 report is delicate and could lead to high volatility if the company fails to meet high expectations.
It is no secret that the crumbling and outdated U.S. infrastructure needs an upgrade. Finally, after years of inaction, the federal government has taken measures to address this issue.
The U.S. desperately needs better infrastructure, which, if addressed soon, could create a massive boom in infrastructure stocks. Right now, we're in bad shape.
Caterpillar's (CAT) Q2 results are likely to reflect the impacts of a y/y decline in volumes, which is expected to have been partially offset by favorable price realization and manufacturing costs.