• EPS adjusted $1.72 vs $1.34 exp
  • expects 2014 sales and revenues to be c.$55bln vs prev forecast of $54-56bln
  • EPS expectations for 2014 continue to improve

Better than expected Q3 numbers from the US machinery giant pushing share price up 5% in pre market and along with GM giving a boost to US equity markets

Caterpillar outlook:

  • from an economic perspective they believe there is a reasonable likelihood that world economic growth could improve on 2015

Sounds like that’s based on hope rather than scientific fact

  • despite cautious optimism for improved global economic growth, significant risks and uncertaintities remain that could temper growth in 2015

As I was saying but, hang on, they also say

We believe the likelihood of significant decline from current levels is limited

  • preliminary outlook for 2015 expects sales and revenues to be flat to slightly up from 2014


Chinese govt push for structural reform is slowing growth

Timing of US fiscal and monetary policy actions may temper business confidence

Caterpillar website here