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Record profit per share posted in first quarter for Caterpillar

DEERFIELD, Ill. (HOI) — Caterpillar’s Chairman and CEO says expectations for performance in 2019 remains unchanged, despite posting a record first-quarter profit per share.

In a statement, Caterpillar says profit per share came in at $3.25 in the first quarter, up from $2.74 a year ago….an 19 percent increase. That beat expectations from analysts.

Adjusted profit per share came in at $2.94, up from $2.82 a year ago.

Sales and Revenue for Caterpillar in the first quarter came in at $13.5 billion, up five percent from a year ago at $12.9 billion.

CAT officials say they have raised their profit per share outlook to $13.06, due to a 31 cent discrete tax benefit, which they say is related to U.S. tax reform as a result of final regulations recently issued by the U.S. Treasury.

Caterpillar has also repurchased $751 million in company stock and paid dividend of $494 million.

“The global Caterpillar team delivered record first-quarter profit per share,” said Caterpillar Chairman and CEO
Jim Umpleby. “We are executing our strategy for profitable growth by investing in services, expanding our
offerings and improving operational excellence.”

John Kendall

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