(Reuters) - In an interview with Reuters, Chief Finance Officer Dave
Burritt and Mike DeWalt, head of investor relations, said
Caterpillar's effort to streamline manufacturing and the
bankruptcy of a key European supplier contributed to the big
second-quarter miss.
Caterpillar said net profit fell 21 percent to $823
million, or $1.24 a share, from $1.05 billion, or $1.52 a
share, in the year-ago quarter. Analysts, on average, had
expected a profit of $1.49 a share on machinery and engine
sales of $10.34 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Burritt and Mike DeWalt, head of investor relations, said
Caterpillar's effort to streamline manufacturing and the
bankruptcy of a key European supplier contributed to the big
second-quarter miss.
Caterpillar said net profit fell 21 percent to $823
million, or $1.24 a share, from $1.05 billion, or $1.52 a
share, in the year-ago quarter. Analysts, on average, had
expected a profit of $1.49 a share on machinery and engine
sales of $10.34 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
No comments:
Post a Comment