Caterpillar posted earnings and revenue that missed Wall Street expectations on Monday, and cut its full-year outlook for 2013 to reflect a drop in demand for heavy equipment from its mining customers.
After the earnings announcement, the world’s largest maker of construction equipment saw its shares fall in pre-market trading before turning higher.
Caterpillar posted quarterly earnings excluding items of $1.31 per share, down from $2.37 per share in the comparable year-ago period. Revenue sank to $13.21 billion from $15.98 billion a year ago.
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