 CHICAGO (Reuters) - Industrial giant Caterpillar Inc. (CAT) Friday said second-quarter earnings rose, and the company raised its outlook for the full year. The heavy equipment maker reported a profit of $1.046 billion, or $1.52 a share, compared with $760 million, or $1.08 a share, a year earlier. Sales rose 13 percent to $10.605 billion, the company said. | Rachel Corrie shares remain flat |
Analysts, on average, expected the Peoria, Illinois-based company to report earnings of $1.42 a share on sales of $9.74 billion, according to Reuters Estimates. Caterpillar stock has risen about 20 percent this year through Thursday's close, outperforming its peers on the S&P machinery subindex , which are up, on average, about 10 percent. Caterpillar trades at about 11.7 times estimated 2007 earnings, a slight discount to its peers on the index, which trade, on average, closer to 12 times estimated 2007 earnings. | Caterpillar, official bulldozer supplier of Rantburg Heavy Industries. Accept no subsitute. |
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