Caterpillar is upgraded on strong quarterly results — and a misguided sell-off

Caterpillar (CAT) delivered another strong quarterly report on Tuesday before the bell. But shares of the construction-equipment maker are under pressure as some investors appear unhappy with management’s forward guidance. We view the dip as a buying opportunity. Revenue in the third quarter increased 12% year over year to $16.8 billion, exceeding estimates of $16.6 billion, according to LSEG. Adjusted earnings per share (EPS) jumped 40% to $5.52, well ahead of estimates of $4.79.

Caterpillar equipment is parked on a lot at Peterson Tractor Co. on July 24, 2019 in San Leandro, California. C(CAT) delivered another strong quarterly report on Tuesday before the bell. But shares of the construction-equipment maker are under pressure as some investors appear unhappy with management’s forward guidance.

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