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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.98+1.3%Nov 28 4:00 PM EST
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From: 2MAR$10/24/2013 3:35:35 AM
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Caterpillar says mining down from 2012, equipment demand hard to forecast, orders for new mining equipment began to drop significantly in mid-2012 and have continued at very low levels. As a result of weak orders and feedback from end users, the sales and revenues outlook provided in January of 2013 included a decline in mining sales. At that time, based on strong mine production for many commodities, the company's outlook expected that order rates would improve later in 2013. But Order rates have not picked up much despite continuing strong commodity production. The company, however, sees better world growth in 2014.

WHAT'S NEW: This morning, Caterpillar reported Q3 earning per share of $1.45 and revenue of $13.42B, compared to analysts’ consensus estimates of $1.67 and $14.32B. WHAT’S NOTABLE: Caterpillar cut its fiscal 2013 guidance again, marking the third time this year the company has done so. The company lowered its FY13 EPS view to $5.50 from $6.50, versus consensus of $6.20. It also lowered its FY13 revenue view to $55B from $56B-$58B. Analysts' consensus stood at $56.46B prior to the outlook revision from the company. Caterpillar forecast FY14 sales at $52.25B-$57.75B, versus consensus $58.65B.



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