News Column

Caterpillar Lowers Profit Expectations

Sept. 25, 2012

Rick Barrett


Caterpillar Inc., which has its mining equipment division in South Milwaukee, has lowered its profit expectations for 2015 because of slower-than-expected growth in the global economy.

The world's largest maker of construction and mining equipment had previously said it expected to earn $15 to $20 per share in 2015. Now the Peoria, Ill.-based company says it expects to earn $12 to $18 per share on revenue of $80 billion to $100 billion.

"There are a number of geopolitical and economic factors driving uncertainty in the world today, but our base-case scenario calls for modest global economic growth over the next few years," CEO Doug Oberhelman said Monday.

Following the announcement, Caterpillar shares fell more than 2% in aftermarket trading.

Source: (c)2012 the Milwaukee Journal Sentinel Distributed by MCT Information Services

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