Caterpillar Inc. (NYSE: CAT) has come out and maintained its 2008 EPS growth estimate of 5% to 15% and sales growth estimates of 5% to 10%. After going back over the notes, this in-line with First Call targets of 10% EPS growth and 6% revenue growth.
As far as cap-ex goes, the construction equipment giant will spend $2.3 Billion in 2008. On a longer-term basis, it expects revenues to approach $60 billion by 2010.
This DJIA-component stock closed up over 5% at $72.61 today, and shares are up about $1.50 in after-hours trading. The 52-week trading range is $59.60 to $87.00.
Caterpillar is learning to love strong emerging growth markets combined with a weak dollar.
Jon C. Ogg
March 11, 2008