More on Caterpillar's (CAT) Q1: Sluggishness in the company's Resource Industries segment...

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

More on Caterpillar's (CAT) Q1: Sluggishness in the company's Resource Industries segment dragged down overall results. The year-over-year comparison comes in weak as dealers cut inventory dramatically despite the upcoming spring and summer crop seasons. The global giant lowers its outlook for 2013 to $57B to $61B in sales and $7.00 per share in profits - from a prior estimate of $60B to $68B in revenue and EPS of $7.00-$9.00. Shares are getting a bit of a lift by word Caterpillar will fire up a stock repurchase program for the first time since 2008, up 1.0% premarket. (PR)