Bloomberg: The construction equipment-maker’s shares rose 5.1% to $99.35.
Bloomberg: The construction equipment-maker’s shares rose 5.1% to $99.35.
“The beat in the quarter and the raise based on that is mainly the positive,” Matt Arnold, a St. Louis-based analyst for Edward Jones & Co. who recommends holding the shares, said in a telephone interview today. “The beat was sizable and the jump in the stock is commensurate.”
Third-quarter net income rose to $1.63 a share from $1.45 a year earlier, the Peoria, Illinois-based company said in a statement today. Excluding one-time items, profit was $1.72, surpassing the $1.35 average of estimates compiled by Bloomberg. Caterpillar said per-share earnings excluding one-time items for this year are expected to be $6.50, 30 cents more than previously projected.
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