Strong quarter for the world’s leading manufacturer of mining and construction equipment
In Q4 2020, Caterpillar
reported an EPS of $2.12 ahead of the $1.49 per share consensus. However, the
figures were 20% lower compared to those reported during Q4 2019.
On the other hand, the revenue was in line with what the
markets were expecting: $11.24 billion.
Although it was as forecasted, revenues fell 14.5%. Caterpillar ended
the quarter with $9.4 billion in cash.
The company’s CEO Jim Umpleby was hopeful about the future,
stating that “We are well-positioned for the future and will emerge from the
pandemic as an even stronger company.” His company also managed to achieve its
goals, as it focused on a strategy for long-term profitable growth.
Following the news, Caterpillar stock price added 2.8%, extending
the share’s six-month growth to near 35%.
Source: thestreet.com
This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.
Previous Article
Ortho, and Qualtrics IPOs are hitting the market
Next Article
Ryanair feels the pandemic’s effects
