What Does Wall Street See for Caterpillar's Q2?
Caterpillar (NYS: CAT) is expected to report Q2 earnings on July 24. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Caterpillar's revenues will drop -14.5% and EPS will drop -33.1%.
The average estimate for revenue is $14.86 billion. On the bottom line, the average EPS estimate is $1.70.
Last quarter, Caterpillar reported revenue of $13.21 billion. GAAP reported sales were 17% lower than the prior-year quarter's $15.98 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, EPS came in at $1.31. GAAP EPS of $1.31 for Q1 were 45% lower than the prior-year quarter's $2.37 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 25.6%, 280 basis points worse than the prior-year quarter. Operating margin was 9.3%, 560 basis points worse than the prior-year quarter. Net margin was 6.7%, 320 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $58.52 billion. The average EPS estimate is $6.83.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Caterpillar is outperform, with an average price target of $108.73.
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The article What Does Wall Street See for Caterpillar's Q2? originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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