Caterpillar earnings for the fourth quarter of 2018 sent CAT stock falling on Monday.

Caterpillar (NYSE:CAT) reported earnings per share of $2.55 for the fourth quarter of the year. This is an increase over its earnings per share of $2.16 from the same time last year. However, this was still bad news for CAT stock by missing Wall Street’s earnings per share estimate of $2.99 for the quarter.

Net income reported during the most recent Caterpillar earnings report came in at $1.05 billion. This is an improvement over the company’s net loss of $1.30 billion from the fourth quarter of 2017.

The Caterpillar earnings report for the fourth quarter of 2018 also includes operating income of $1.88 billion. The manufacturer of heavy machinery reported operating profit of $1.39 billion for the same period of the year prior.

Caterpillar earnings for the fourth quarter of the year also has revenue coming in at $13.34 billion. This is better than the company’s revenue of $12.90 billion reported in its fourth quarter of the previous year. It also beats out analysts’ revenue estimate of $13.33 billion for the period, but that wasn’t enough to keep CAT stock from falling today.

The Caterpillar earnings report also has the company providing an outlook for the full year of 2019. It is expecting earnings per share for the year to range from $11.75 to
$12.75. Wall Street is looking for CAT to report earnings per share of $12.64 in 2019.

CAT stock was down 9% as of noon Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.