Caterpillar's first-quarter earnings jumped more than 20 percent to top expectations, dispute a slight slip in revenue.
Caterpillar Inc. earned $1.11 billion, and $1.81 per share, in the quarter. That compares with $922 million and $1.44 per share, the same time last year. The $1.81 per share earnings do not counting restructuring costs.
Revenue slid 4 percent to $12.7 billion compared to the first quarter of 2014. Analysts forecast earnings of $1.35 per share on $12.36 billion in revenue. The Peoria based company now expects an adjusted 2015 profit of $5 per share, up a quarter from its previous forecast. Analysts predicts for the year are slightly more conservative at $4.78 per share.
Caterpillar had a worldwide workforce of 113, 322 at the end of the first quarter. That amounts to a decrease of more than 3,200 full-employees and a 772 person increase in flexible workforce. Hence, the company's total workforce decrease amounts to 2,485 people worldwide.