Caterpillar Raises Forecast on Mine Equipment Demand
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Caterpillar Inc., the world’s largest maker of construction equipment, raised its full-year earnings forecast on higher demand in developing countries for mining, energy and rail equipment.
Full-year earnings will be $3.15 to $3.85 a share, up from its April forecast of $2.50 to $3.25, the Peoria, Illinois-based company said in a statement today. The average estimate was $3.27 in a Bloomberg survey of analysts. Second-quarter profit was $1.09 a share, beating the 84-cent estimate.