Caterpillar 4Q results top Street OKs 10B buyback 2014 forecast above analysts

NEW YORK, N.Y. – Caterpillar’s fourth-quarter net income rose compared with results weighed down by a large impairment charge a year ago. Its results topped Wall Street’s view.The Peoria, Ill.=based company’s board approved a new $10 billion buyback, and provided a 2014 forecast above analysts’ estimates.Shares climbed in premarket trading Monday.For the period ended Dec. 31, Caterpillar Inc. — which makes mining gear, construction and forestry equipment and large power generators — earned $1 billion, or $1.54 per share. That compares with $697 million, or $1.04 per share, a year earlier.The prior-year period included an impairment charge of 87 cents per share, partially offset by a tax settlement of 45 cents per share.Revenue declined 10 per cent to $14.4 billion from $16.08 billion.Analysts surveyed by FactSet expected earnings of $1.27 per share on revenue of $13.41 billion. FILE – This Thursday, Feb. 28, 2013, file photo shows a parking lot at Caterpillar Belgium, in Gosselies, Belgium. Caterpillar Inc. reports quarterly financial results before the market opens on Monday, Jan. 27, 2014. (AP Photo/Yves Logghe, File) AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Caterpillar 4Q results top Street; OKs $10B buyback; 2014 forecast above analysts’ estimates by The Associated Press Posted Jan 27, 2014 5:53 am MDT