Caterpillar Profit Above Views, Sales Not - TheStreet

PEORIA, Ill. (


) --


(CAT) - Get Report

reported fourth-quarter earnings of $232 million, or 36 cents a share, down 65% from a year earlier, but well above analysts' estimates on an adjusted basis.

Caterpillar said excluding redundancy costs profit in the quarter was 41 cents a share. Analysts surveyed by Thomson Reuters estimated earnings of 28 cents a share.

Fourth-quarter revenue was $7.9 billion, down 39% from a year earlier; analysts expected revenue of $8.11 billion.

Caterpillar said it expects 2010 revenue to be up 10% to 25% from 2009 revenue of $32.4 billion, and profit is expected to be about $2.50 a share.

Analysts expect 2010 earnings for Caterpillar of $2.71 a share.

-- Reported by Joseph Woelfel in New York.

Follow on


and become a fan on