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7/24/2019, 1:34 PM (Source: TeleTrader)
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Caterpillar revenues in Q2 at $14.43B, rises 3% YoY

Caterpillar Inc. said on Wednesday that its revenue for the second quarter of 2019 stood at $14.43 billion, marking a 2.8% increase on an annual basis. In the same comparable timeframe, the company's adjusted earnings per share amounted to $2.83, 9% lower than the previously published market estimates, but in line with the $2.82 profit per share 9in the second quarter of 2018.

During the April-June period of the current year, Machinery, Energy & Transportation operating cash flow was $2 billion. At the same time, the firm repurchased $1.4 billion of Caterpillar common stock and paid dividends of $500 million. The full-year profit per share outlook range is maintained at $12.06 to $13.06, which includes the first-quarter $0.31 per share discrete tax benefit, while the company currently expects to be "at the lower end of this outlook range."

"Our strong operating cash flow in the quarter allowed us to repurchase shares and pay dividends of about $1.9 billion. This is in line with our intention to return substantially all free cash flow to shareholders," Caterpillar Chairman and CEO Jim Umpleby noted.

Breaking the News / MA