Caterpillar (NYSE: CAT) is expected to report Q4 earnings on Jan. 28. 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 decrease -6.5% and EPS will decrease -23.1%.

The average estimate for revenue is $16.12 billion. On the bottom line, the average EPS estimate is $1.73.

Revenue details
Last quarter, Caterpillar booked revenue of $16.45 billion. GAAP reported sales were 4.6% higher than the prior-year quarter's $15.72 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $2.26. GAAP EPS of $2.54 for Q3 were 49% higher than the prior-year quarter's $1.71 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 28.0%, 220 basis points better than the prior-year quarter. Operating margin was 14.2%, 300 basis points better than the prior-year quarter. Net margin was 10.3%, 300 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $65.58 billion. The average EPS estimate is $9.08.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Caterpillar is outperform, with an average price target of $105.43.

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