Caterpillar (NYSE: CAT) reported Q1 EPS of $1.86, $0.51 better than the analyst estimate of $1.35. Revenue for the quarter came in at $12.7 billion versus the consensus estimate of $12.48 billion.

Caterpillar sees FY2015 EPS of $4.70-$5.00, versus prior guidance of $4.60-$4.75 and the consensus of $4.67.

"We delivered solid results for the first quarter of this year, including higher profit than in the first quarter of 2014. Our focus on operational improvement, including lean manufacturing and cost management, is helping in what is a tough time for some of our important cyclical businesses. We continue to execute on improving safety, quality, inventory turns, delivery performance and market position," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

"The first quarter wasn't without challenges. Sales and revenues were off about 4 percent from the first quarter of last year, mining remained weak and construction was down in most regions. On the plus side, Energy & Transportation turned in another great quarter, although we don't expect this to continue due to the oil-related portion of the business," added Oberhelman.

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