Caterpillar posts stronger-than-expected fourth-quarter profit

27/01/2014 - 13:46

(Reuters) - Caterpillar Inc posted a stronger-than-expected quarterly profit on Monday as the world's largest mining and construction equipment aggressively cut costs to offset continued sluggish sales of its earth-moving equipment.

The Peoria, Illinois-based company, which also makes locomotives and diesel and turbine engines, reported a fourth-quarter profit of $1 billion, or $1.54 a share, up from $697 million, or $1.04 a share, in the fourth quarter of 2012.

Revenue fell 10 percent to $14.4 billion.

Analysts, on average, expected CATERPILLAR (CAT.NY)to post a profit of $1.28 a share on sales of $13.6 billion, according to Thomson Reuters estimates.

(Reporting by James B. Kelleher in Chicago; Editing by Jeffrey Benkoe)