Caterpillar Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 25, 2018 at 07:30 am
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Caterpillar Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total sales and revenues of $12,896 million compared with $9,574 million for the same period a year ago. Operating profit was $1,161 million compared with loss of $1,262 million for the same period a year ago. Consolidated profit before taxes was $1,111 million compared with loss of $1,348 million for the same period a year ago. Loss was $1,299 million or $2.18 per basic and diluted share compared with $1,171 million or $2.00 per basic and diluted share for the same period a year ago. Adjusted profit per share was $2.16 against $0.83 a year ago. Adjusted profit before taxes was $1,657 million against $627 million a year ago.
For the full year, the company reported total sales and revenues of $45,462 million compared with $38,537 million for the same period a year ago. Operating profit was $4,406 million compared with $498 million for the same period a year ago. Consolidated profit before taxes was $4,082 million compared with $139 million for the same period a year ago. Profit was $754 million or $1.26 per diluted share compared with loss of $67 million or $0.11 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $5,702 million compared with $5,636 million for the same period a year ago. Capital expenditures - excluding equipment leased to others was $898 million compared with $1,109 million for the same period a year ago. Expenditures for equipment leased to others were $1,438 million compared with $1,819 million for the same period a year ago. Adjusted profit per share was $6.88 against $3.42 a year ago. Adjusted profit before taxes was $5,554 million against $2,738 million a year ago.
The company provides earnings guidance for the full year of 2018. The company expects 2018 profit per share in a range of $7.75 to $8.75. Excluding restructuring costs of about $400 million, adjusted profit per share is expected in a range of $8.25 to $9.25.
Caterpillar Inc. is the world's leading producer of mining construction and operation equipment, diesel and natural gas motors, and industrial gas turbines. Net sales break down by activity as follows:
- sale of machines and motors (94.5%): terracing and construction machines (power shovels, high-lifts, bulldozers, etc.), agricultural and forestry tractors, motors and turbines (for heavy trucks, boats, industrial machines, and power stations), conveyer systems, hydraulic circuits and components, etc.;
- financial services (5.2%) ;
-other (0.6%).
Net sales are distributed geographically as follows: North America (51.6%), Europe/Africa/Middle East (20.4%), Asia/Pacific (18.1%) and Latin America (9.9%).
Caterpillar Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018