IRVING, Texas (AP) — IRVING, Texas (AP) — Caterpillar Inc. (CAT) on Tuesday reported third-quarter net income of $2.79 billion.
On a per-share basis, the Irving, Texas-based company said it had profit of $5.45. Earnings, adjusted for restructuring costs, came to $5.52 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.75 per share.
The construction equipment company posted revenue of $16.81 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $16.56 billion.
Caterpillar shares have risen 1% since the beginning of the year, while the S&P's 500 index has increased 8.5%. The stock has risen 10% in the last 12 months.
_____
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