CAT Halted After 15% Post-Trump Spike: Warns Estimates “Too Optimistic”, Announces Cost Cuts, Layoffs

After soaring over 15% in the post-Trump period, Caterpillar shares are halted this morning ahead of a presentation at Credit Suisse Annual Industrial Conference. The presentation shows cost cuts, layoffs, and admits that 2017 consensus estimates are "too optimistic."

Other highlights:

  • CATERPILLAR ON TRACK FOR OVER $2B COST REDUCTION FOR 2016
  • CAT: COST CUTS INCL COMBINED/REDUCED FUNCTIONS, FEWER PEOPLE
  • CAT: FIRST CALL 2017 CONSENSUS ESTIMATE $3.25 TOO OPTIMISTIC
  • CAT: FIRST CALL '17 CONSENSUS EST. $38B SALES TOO OPTIMISTIC

CAT Halted…

 

Re-opened…Buy the dip…

 

Full Presentation…

Caterpillar Presentation at Credit Suisse Investor Conference 2016 by zerohedge on Scribd

http://ift.tt/2gPR5Op

 

Link to Credit Suisse Webcast.


via Read More Here..

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s