TELETRADER News
1/31, 12:33 PM (Source: TeleTrader)
more TeleTrader news

Caterpillar's revenue falls 8% to $13.14B in Q4

Caterpillar Inc. said on Friday that its sales and revenues for the fourth quarter of 2019 amounted to $13.14 billion, marking a 8% decrease compared to the same period a year ago. It was in line with the estimates. The company's earnings per share (EPS) stood at $1.97, a jump of 10.7% compared to the same trimester in 2018. Operating profit for the closing quarter of 2019 was $1.85 billion, decreasing 2% on an annual basis.

For the whole year 2019, the company's sales and revenues slid 8% year-over-year to $53.8 billion while the earnings per share slightly missed Caterpillar's projections as it landed at $10.74 in fiscal 2019. However, it rose 4.7% compared to the figure reported in 2018.

"In the fourth quarter, strong cost control more than offset lower-than-expected end-user demand. Our margin performance reflected our diligent focus on maintaining a flexible and competitive cost structure," Caterpillar Chairman and CEO Jim Umpleby said in a statement.

The company estimated that its earnings per share will be in a range between $8.50 and $10.00 in 2020.

Breaking the News / GA