PEORIA, Ill. (AP) – Caterpillar Inc. (CAT) on Tuesday reported fourth-quarter profit of $757 million.
On a per-share basis, the Peoria, Illinois-based company said it had profit of $1.23. Earnings, adjusted for restructuring costs, came to $1.35 per share.
The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The construction equipment company posted revenue of $14.24 billion in the period, beating Street forecasts. Analysts expected $14.18 billion, according to Zacks.
Caterpillar expects full-year earnings to be $4.75 per share, with revenue expected to be $50 billion.