Caterpillar 1Q earnings rise 13 percentFriday April 18, 8:02 am ET Caterpillar 1st-qtr earnings rise on global mining and energy demand, beats Wall Street views PEORIA, Ill. (AP) -- Heavy equipment maker Caterpillar says demand for its global mining and energy products pushed its first-quarter earnings up 13 percent.
Peoria, Ill.-based Caterpillar Inc. said Friday it earned $922 million, or $1.45 per share, in the January-March period compared with $816 million, or $1.23 per share, in the year-ago quarter.
Revenue rose 18 percent to $11.8 billion from $10.02 billion a year earlier.
Thomson Financial says analysts expected profit of $1.33 per share on revenue of $10.77 billion.
Caterpillar still expects 2008 earnings per share to rise 5 to 15 percent over 2007, and sales to improve by 5 to 10 percent, as North American weakness is offset by growth in emerging markets.