Caterpillar is posting weak profits and revenue for the second quarter as the energy sector cools.
The construction equipment company on Wednesday reported earnings of $1.62 billion, or $2.83 per share. That’s well short of the $3.12 Wall Street was looking for, according to Zacks Investment Research.
Revenue was $14.43 billion, just shy of analyst projections.
Caterpillar expects full-year earnings in the range of $11.75 to $12.75 per share.
Shares of Caterpillar Inc., based in Deerfield, Illinois, tumbled 5% before the opening bell.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT