Caterpillar Inc. (CAT) is the largest
heavy duty machinery manufacturer in the world. The company announced
its third quarter (3Q) earnings of fiscal year (FY) 2013 on October 23,
2013.
Caterpillar reported third quarter sales
of $13.4 billion, a 21% decline year-over-year (YoY). It missed
estimates by almost $1.1 billion. The company’s earnings per share (EPS)
of $1.45 missed estimates by $0.23. Operating income was down to $1.26
billion, a drop of almost 50% YoY, and 10% quarter-over-quarter (QoQ).
Caterpillar is segmented into three main
categories, Construction Industries, Power Systems and Resource
Industries. Construction Industries manufactures machinery used in
infrastructure development while Power Systems manufactures machinery
for power generation and Resource Industries makes equipment for mining
industries. CAT.
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