Caterpillar Inc. Earnings Cheat Sheet: Profit And Revenue Jump But Earnings Below Estimates

S&P 500 (NYSE:SPY) component Caterpillar Inc. (NYSE:CAT) delivered a solid second quarter as profit rose from a year earlier. Caterpillar Inc. offers construction and mining equipment as well as diesel and natural gas engines and industrial gas turbines.

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Caterpillar Earnings Cheat Sheet for the Second Quarter

Results: Net income for Caterpillar Inc. rose to $1.285 billion ($1.72 per share), excluding $204 million of expense related to the acquisition of Bucyrus, vs. $707 million ($1.09 per share) a year earlier. Income including acquisition charges was $1.015 billion ($1.52 per share)

Revenue: Rose 36.7% to $14.23 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CAT fell short of the mean analyst estimate of $1.77 per share. It beat the average revenue estimate of $13.52 billion.

Quoting Management: “Customer demand around the world continues to improve, and our sales and revenues reached an alltime record in the second quarter. Our employees, dealers and suppliers should feel great about the way they’re responding to the increase in customer demand,” said Chairman and Chief Executive Officer Doug Oberhelman.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 47.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 62.2% from the year earlier quarter.

The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 53 cents, and in the fourth quarter of the last fiscal year, it was ahead by 19 cents.

Competitors to Watch: Deere & Company (NYSE:DE), General Electric Company (NYSE:GE), Astec Industries, Inc. (NASDAQ:ASTE), Columbus McKinnon Corp. (NASDAQ:CMCO), Manitowoc Company, Inc. (NYSE:MTW), Cummins Inc. (NYSE:CMI), CNH Global N.V. (NYSE:CNH), Navistar Intl. Corp. (NYSE:NAV), Terex Corporation (NYSE:TEX), and Lindsay Corporation (NYSE:LNN).

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(Source: Xignite Financials)