First Quarter Earnings Reports In Focus
Zacks Investment Research | Apr 24, 2017 10:38PM ET
Among the new onslaught of Q1 earnings reports hitting the tape ahead of Tuesday’s market open, we see several blow-out numbers from some of the leading companies from a variety of industries. In the interest of keeping things simple while we enjoy a cup of coffee, we’ll keep this to just the pre-market home runs, like a highlight reel of a baseball game:
Heavy equipment maker Caterpillar (NYSE:CAT) more than doubled earnings expectations this morning, posting $1.28 per share compared to the 62 cents in the Zacks consensus estimate. The Zacks Rank #1 (Strong Buy) company also put up a big beat on the top line: $9.8 billion beat the $9.36 billion expected. It’s at least the 5th straight quarter of earnings beat, but the 106% positive surprise dwarfs the trailing 4-quarter average of a 13.6% beat. Pre-market shares of CAT are up 5%, and the company hiked fiscal year guidance, as well. Original post
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