Caterpillar maintained its full-year forecast, saying in a filing with the Securities and Exchange Commission that it remains “comfortable” with the figures. The company still expects a profit of $3.50 per share and revenue between $40 billion and $44 billion. Wall Street is looking for a profit of $3.73 per share on revenue of $41.09 billion.
The company said last year it would cut jobs and aggressively slash costs to cope with low demand due to slower growth in China and Brazil and plunging commodity prices.
Up to Wednesday’s close, stock had risen more than 9 pct this year, while Dow Jones industrial average index had fallen 1 percent.
— Reuters and The Associated Press contributed to this report.