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Caterpillar 3Q Earnings Slide, But Exceed Analysts' Expectations


Caterpillar Inc.'s third-quarter earnings are lower than this time last year, but earnings surpassed Wall Street expectations.

Cat reported its numbers before the opening bell today that show the company generated a net income of $651 million in the third quarter. That’s down $2 million from third quarter last year of $559 million. The company posted Q-3 earnings of 85 cents per share, which beat analyst estimates of 77 cents per share.

Revenues and earnings for the quarter came in at $9.2 billion --  a decrease from  $11 billion in 2015. Caterpillar says in a news release it projects full year earnings to be $3.25 per share and revenue to be $39 billion.