- Caterpillar (CAT) plans to buy back $1.7B in shares during Q1, which will complete a $7.5B program. The company also announces a new $10B plan that will expire on December 31, 2018.
- Expects 2014 EPS excluding restructuring costs of $5.85 per share; including restructuring costs, the outlook is for $5.30. Consensus is for $5.78.
- Forecasts 2014 revenue to be similar to 2013 - "about $56B in a range of plus or minus 5%." Consensus is for $55.27B.
- Expects the cost of restructuring to be $400-500M for a post-tax impact of $0.50-0.60 a share.
- Shares +6.7%. (PR)
at Investor's Business Daily (Tue, 6:47PM)