Caterpillar releases 4th quarter earnings report

DEERFIELD, Ill. (AP)  -- Caterpillar Inc. (CAT) on Monday reported fourth-quarter net income of $1.05 billion, after reporting a loss in the same period a year earlier.

The Deerfield, Illinois-based company said it had profit of $1.78 per share. Earnings, adjusted for one-time gains and costs, were $2.55 per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.

The construction equipment company posted revenue of $14.34 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $14.37 billion.

Caterpillar expects full-year earnings to be $11.75 to $12.75 per share.

Caterpillar shares have increased roughly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 6 percent. The stock has declined 18 percent in the last 12 months.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.