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Caterpillar (CAT) Reports In-Line Q2 EPS; Reaffirms FY15 EPS Outlook

July 23, 2015 7:33 AM EDT

Caterpillar (NYSE: CAT) reported Q2 EPS of $1.27, in-line with the analyst estimate of $1.27. Revenue for the quarter came in at $12.3 billion versus the consensus estimate of $12.62 billion.

Caterpillar reaffirms FY2015 EPS of $5.00, versus the consensus of $4.97.

Company intends to repurchase $1.5 billion of common stock in the third quarter.

"Our Caterpillar team continues its track record of solid operational performance in the face of difficult conditions in several of the key industries we serve. Because we serve cyclical industries, we focus intently on operational execution and cost control. This is particularly important when sales decline; our goal when sales decline is to manage costs so the decline in operating profit is less than 30 percent of the decline in sales and revenues. We did much better than that in the second quarter. We've achieved that by closely watching costs, the restructuring we've done over the past two years and the work done by Caterpillar employees across the world who are proving we can excel in this challenging economic environment," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

"Our focus during these challenging times is on operational execution and customer success through efforts like Lean Management and our Across the Table initiative with dealers, while also investing in tomorrow through new technologies, innovation and data analytics – both within Caterpillar, and by partnering with and investing in other companies," continued Oberhelman

For earnings history and earnings-related data on Caterpillar (CAT) click here.



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