Caterpillar also increased its full-year sales and revenue forecast to $39 billion to $42 billion, with a midpoint of $40.5 billion, vs. previous guidance of $38 billion to $42 billion. The company said despite significant economic concerns around the world, orders have continued to outpace shipments. Analysts on average have been expecting full-year earnings of $3.29 a share on revenue of $38.92 billion. For the second quarter, Caterpillar reported a profit of $1.09 a share, an increase of 49 cents a share. Sales and revenues were up 31% at $10.41 billion. The company said that operating profit as a percent of sales more than doubled during the quarter. >>Search for Highest Dividends by Rate or Yield The second-quarter consensus earnings estimate was 85 cents a share on revenue of $9.8 billion. Caterpillar shares rose 1.4% to $67.80 in the premarket trading session Thursday.
PEORIA, Ill ( TheStreet) -- Caterpillar ( CAT) raised its full-year profit outlook to $3.15 to $3.85 a share from previous guidance of $2.50 to $3.25 as the company continues its focus on cost management and profit improvement.
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