IRVING, Texas (AP) — IRVING, Texas (AP) — Caterpillar Inc. (CAT) on Thursday reported fourth-quarter net income of $2.79 billion.
The Irving, Texas-based company said it had profit of $5.78 per share. Earnings, adjusted for non-recurring gains, were $5.14 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.97 per share.
The construction equipment company posted revenue of $16.22 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $16.64 billion.
Caterpillar shares have increased slightly more than 8% since the beginning of the year, while the S&P's 500 index has risen 27%. The stock has climbed 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT
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