Caterpillar Cites Operational Strength for Strong Quarterly Earnings

NEW YORK -- Caterpillar (IW 500/2 3) reported Thursday sharply improved earnings for the third quarter despite slower global economic growth. Caterpillar, maker of a wide range of construction, machinery and mining equipment, said third-quarter net profit rose eight percent from a year ago to $1.02 billion. Excluding restructuring costs, earnings per share were $1.72, far above analyst expectations of roughly $1.35 per share. Sales and revenues rose 1% to $13.55 billion. read more