PEORIA (dpa-AFX) - Caterpillar Inc. (CAT) announced earnings for first quarter that dropped from the same period last year.
The company's earnings totaled $1.09 billion, or $1.98 per share. This compares with $1.88 billion, or $3.25 per share, in last year's first quarter.
Analysts had expected the company to earn $1.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 21.0% to $10.64 billion from $13.47 billion last year.
Caterpillar Inc. earnings at a glance:
-EPS (Q1): $1.60 vs. $2.94 last year. -Analysts Estimate: $1.69 -Revenue (Q1): $10.64 Bln vs. $13.47 Bln last year.
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