Contracting

ContractingFinancials

Caterpillar Delivers Blowout Quarter In 1Q

Caterpillar Inc. (CAT) delivered a blowout quarter in 1Q as the manufacturer of mining and construction equipment posted revenues of $11.9 billion, up 12% year-on-year and beating analysts’ estimates of $10.9 billion. The company reported adjusted earnings of $2.87 per share in 1Q that blew past consensus estimates of $1.94 per share. Caterpillar Chairman and CEO Jim Umpleby said, “I’m proud of our global team’s strong performance as they continue to serve our customers. We’re encouraged by improving conditions in our end markets and are proactively managing supply chain risks....
ContractingFinancials

Mining gear maker Epiroc profit lags forecasts, shares fall

Adds detail, shares, background STOCKHOLM, April 28 (Reuters) - Swedish mining gear maker Epiroc EPIRa.ST reported first-quarter operating earnings below market expectations on Wednesday, sending its shares down more than 4%. Operating earnings at the firm rose to 1.87 billion Swedish crowns ($223.2 million) from 1.93 billion a year earlier, lagging the 2.13 billion average analyst forecast according to Refinitiv data. Earnings included negative one-off items of 149 million crowns. Epiroc said order intake reached 10.7 billion crowns in the quarter, up 21% on a like-for-like basis from the year-earlier...
ContractingFinancialsFrance

France’s Eramet says sales buoyed by mining unit, passes on A&D offer

PARIS, April 26 (Reuters) - France's Eramet ERMT.PA reported a rise in first-quarter sales on Monday as higher prices and output boosted its mining division, offsetting a slide at Aubert & Duval (A&D), the struggling aeronautics alloys supplier it is trying to sell. Group sales reached 838 million euros ($1.01 billion), up 8% compared with the same period a year earlier, including an 18% rise for its mining and metals branch to 683 million euros, the French company said in a statement. The market context for the mining and metals...