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More on Caterpillar (CAT) Q2 earnings: EPS of $1.45 vs. $2.54 a year ago on revenues of $14.62B... (CAT)

More on Caterpillar (CAT) Q2 earnings: EPS of $1.45 vs. $2.54 a year ago on revenues of $14.62B down from $17.37B. $1B reduction in dealer machine inventory was more than expected and dealers are positioned to reduce it even further; management expects it to decline another $1.5B-$2B in H2, ending the year at about $3.5B - "this means we are underselling end-user demand ... it sets us up for better sales in 2014." FY13 EPS guidance is cut $0.50 to $6.50, with revenues of $56B-$58B vs. a previous range of $57B-$61B. "2013 is turning out to be a tough year and we've already taken action to reduce costs." Share repurchases are expected to be about $1B in Q3. Shares -1.2% premarket. CC at 11 ET. (PR)
Comments (4)
  • chopchop0
    , contributor
    Comments (3006) | Send Message
     
    CAT is such a DOG. I should've dumped it higher than this and loaded up more on CMI
    24 Jul 2013, 08:09 AM Reply Like
  • John Cusack's Pancreas
    , contributor
    Comments (31) | Send Message
     
    Use CAT equipment to bulldoze vacant swaths of Detroit. Bullish!
    24 Jul 2013, 08:29 AM Reply Like
  • mobyss
    , contributor
    Comments (1792) | Send Message
     
    CAT is a barometer of the Global Economy. When people aren't building things that means they expect (or already are) seeing reduced demand. Office buildings, factories, housing, roads.
    24 Jul 2013, 12:35 PM Reply Like
  • Jason Burack
    , contributor
    Comments (1712) | Send Message
     
    After more downside, there will be a time when CAT becomes a great value play but now is not that time! lol.
    24 Jul 2013, 01:33 PM Reply Like
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