Caterpillar's Shares Tumble On Disappointing Profit Outlook
- 6 years ago
Caterpillar disappointed investors on Tuesday by not raising its 2018 earnings forecast yet again. The move raising fears that the heavy-duty equipment maker may be signaling a slowdown despite posting better-than-expected quarterly profits.
The stock was last trading down 8 percent before the opening bell on Tuesday, weighing on the overall U.S. stock market.
The company kept unchanged the 2018 adjusted profit per share outlook of $11.00 to $12.00 per share, which did not go down well with investors who were expecting yet another upward revision in the earnings guidance.
The stock was last trading down 8 percent before the opening bell on Tuesday, weighing on the overall U.S. stock market.
The company kept unchanged the 2018 adjusted profit per share outlook of $11.00 to $12.00 per share, which did not go down well with investors who were expecting yet another upward revision in the earnings guidance.