Caterpillar Lifts 2015 Outlook, But Challenges Remain

April 23, 2015 4:41 PM

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Caterpillar Lifts 2015 Outlook, But Challenges Remain

Caterpillar (CAT) lifted its earnings outlook for 2015 to cap a stronger-than-expected first quarter, but the equipment maker maintained a cautious tone amid weakness in the mining and oil industries.

The world’s largest manufacturer of construction and mining equipment said Thursday it earned $1.11 billion, or $1.81 a share, during the first three months of the year. Earnings were up 20% compared to a year-ago profit of $922 million, or $1.44 a share. Revenue fell 4% to $12.7 billion.

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