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Caterpillar Earnings Better Than Expected but Stock Slumps

Shares of Caterpillar (NYSE:CAT) are trending about 2.4 percent lower in premarket trading after reporting earnings this morning. The industrial equipment company posted EPS of $1.69 compared to $1.45 one year prior.

Revenue came in at $14.15 billion versus $14.62 during the same quarter of 2013.

Analysts expected EPS of $1.52 on revenue of $14.47 billion.

CEO Doug Oberhelman told CNBC that “Mining is still very slow,” but the mining segment was up for the first time since 2012.

What made investors push the stock lower was the company lowered outlook for the year. Caterpillar now expects revenue of $54 to $56 billion–down from $56 to $58 billion.

Disclosure: At the time of this writing, the author had no position in the above mentioned stock.

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