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Caterpillar Inc. (CAT) fell on Tuesday, Oct. 23, after having had some supply chain challenges, even though it beat third-quarter earnings and revenue estimates.
The Deerfield, Ill.-based construction and mining equipment manufacturer of a $ 13.5 billion. Analysts had been expecting earnings of $ 2.85 on revenue of $ 13.26 billion, according to FactSet.
The company reiterated its full-year $ 11.64 a share, which compared with analysts' expectations of $ 11.64 a share.
"Most end markets continue to improve," Caterpillar said in a statement. "In the fourth quarter, price realization, operational excellence and cost discipline, including tariffs."
That said, the company noted, "Caterpillar has made efforts to improve material flows," "stresses remain for some parts and components that are impacting lead times and availability. "
Shares of Caterpillar fell 6.2% in premarket trading at $ 120.79 a share. The stock has gone down 18% year to date.
– This is a developing story; please check back for updates.
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