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Caterpillar report on Thursday

Caterpillar will report its first-quarter results for 2014 on Thursday 24 April at 12.30pm (London time). The consensus is for earnings per share (EPS) of $1.22 and revenue of $13.1 billion.

Caterpillar is trading at 10,322, up 19% since the firm announced better-than-expected EPS and revenue for the fourth-quarter of 2013; the EPS and revenue were $1.54 and $14.4 billion respectively. Caterpillar manufactures heavy machinery for the construction and mining sectors, and the boost in the construction sector has offset the slight drop in demand from the mining sector.

Caterpillar reduced its staff by over 10,000 last year, as a part of its cost-cutting scheme. The company’s outlook for 2014 was cautiously optimistic, but it is not expecting major sales from mining as the resources sector has been hit by soft metal prices.

Year to date, the S&P 500 is up 0.4% while Caterpillar is up 13%. If the results do not meet expectations we could see the share price drift towards the 50-day moving average of 9810. If the results are strong we could head towards the 11,000 mark, not seen since March 2012.

Caterpillar chart

Caterpillar is available for extended hours trading. Here is a list of US stocks that can also be traded outside New York Stock Exchange trading hours of 2.30pm to 9pm (London time).

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