Caterpillar (CAT) Misses Q1 EPS by 9c, Withdraws Outlook

Caterpillar (NYSE: CAT) reported Q1 EPS of $1.60, $0.09 worse than the analyst estimate of $1.69. Revenue for the quarter came in at $10.6 billion versus the consensus estimate of $10.92 billion.

Outlook:

Caterpillar's financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Caterpillar withdrew its earnings guidance on March 26 and is not providing a financial outlook for 2020 at this time.

"We have taken decisive actions to enhance our strong financial position, while continuing to execute our strategy for profitable growth," said Umpleby. "Caterpillar has faced and overcome many challenges in our 95-year history. Our goal is to emerge from the pandemic an even stronger company."

For earnings history and earnings-related data on Caterpillar (CAT) click here.

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