Caterpillar reported first-quarter revenues of $17.42 billion, a 22.2% increase from a year earlier and 7.4% above analyst expectations. The heavy machinery maker also delivered an impressive beat on adjusted operating income and earnings per share, with Chairman and CEO Joe Creed citing resilient end markets and disciplined execution. Among the 21 heavy machinery stocks tracked, aggregate revenues surpassed consensus estimates by 1.2%, while next-quarter guidance was in line. Douglas Dynamics posted the strongest results of the group, raising its full-year guidance, while Lindsay recorded the weakest quarter with a 15.7% revenue decline. Caterpillar shares have risen 21.6% since the report to $985.40.
Douglas Dynamics IncPosted strongest results and raised full-year guidance.
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Terex Corporation
Caterpillar IncQ1 revenue and earnings beat estimates, with CEO citing resilient end markets.
Lindsay CorporationRecorded weakest quarter with 15.7% revenue decline.