By
Team Writer
/ October 31, 2016
During the third quarter of 2016, Caterpillar has experienced a large loss of 49% per share. Caterpillar cites this decline as the downturn of the worldwide economic market that exists today. Although they have experienced this downturn in the third quarter, Caterpillar anticipates a high rate of return per share and an encouraging profit in the Chinese market in 2017.
Key Takeaways:
- Caterpillar announced Tuesday its profit per share of $0.48 for the third quarter of 2016
- Economic weakness throughout much of the world persists and, as a result, most of our end markets remain challenged
- Cat’s full-year outlook for 2016 sales and revenues is about $39 billion, and profit is $2.35 per share
“Economic weakness throughout much of the world persists and, as a result, most of our end markets remain challenged.”