Caterpillar (NYSE: CAT ) is expected to report Q3 earnings on Oct. 22. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Caterpillar's revenues will grow 7.8% and EPS will increase 16.1%.
The average estimate for revenue is $16.95 billion. On the bottom line, the average EPS estimate is $2.24.
Last quarter, Caterpillar reported revenue of $17.37 billion. GAAP reported sales were 22% higher than the prior-year quarter's $14.23 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, EPS came in at $2.54. GAAP EPS of $2.54 for Q2 were 67% higher than the prior-year quarter's $1.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 28.2%, 210 basis points better than the prior-year quarter. Operating margin was 15.4%, 410 basis points better than the prior-year quarter. Net margin was 9.8%, 270 basis points better than the prior-year quarter.
The full year's average estimate for revenue is $68.07 billion. The average EPS estimate is $9.46.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Caterpillar is outperform, with an average price target of $124.00.
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