February 13th 2012

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Caterpillar loses ground in Q1

Published on April 16, 2002

Ottawa Business Journal; Published on January 23, 2011

Construction equipment maker Caterpillar Inc. missed Wall Street estimates in its Q1 results released Tuesday as it continues to feel the pinch of the U.S. recession.

Topics :: Dow Jones Industrial Average , First Call , Thomson Financial

The company, one of the components of the Dow Jones Industrial Average, posted earnings of $80 million, or 23 cents a share, compared to $162 million, or 47 cents a share, in the same period a year ago.

That was penny short of the consensus analyst forecast of 24 cents a share, according to earnings tracker First Call/Thomson Financial.

First-quarter revenue fell to $4.4 billion from $4.8 billion.

The company also said it expects full-year sales to be about flat with a year ago and earnings to be up slightly, largely due to cost cuts.

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