Caterpillar (CAT-NYSE) is trading up in pre-market on what has to be called stellar earnings. The company’s net is actually down 3% year-over-year, but it outperformed and raised guidance.
The company posted EPS of $1.23 and revenues of $10 Billion, above estimates of $1.09 and $9 Billion. The guidance isn’t dull either: $5.30 to $5.80 EPS and $42 to $44 Billion, while prior estimates were $5.20 to $5.70 and $41.5 to $43.5 Billion
International sales are helping to offset some slower highway truck engines in the US, so maybe a weak dollar isn’t so bad after all. Shares are up almost 5% at $71.90 in pre-market trading; the 52-week trading range is $57.98 to $82.03. This now only has a forward P/E ratio for 2007 of just under 13 at the mid-point of its guidance. Besides this one looking good all on its own, this will probably have Jim Cramer out pounding the tables on it since he’s been so bullish on the stock.
Jon C. Ogg
April 20, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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