April 28, 2020 / 10:44 AM / a month ago

Caterpillar quarterly earnings plunge 46% on coronavirus fallout

CHICAGO, April 28 (Reuters) - Caterpillar Inc on Tuesday reported a 46% annual drop in quarterly earnings, hurt by business disruption caused by the coronavirus pandemic.

In the first quarter, the heavy equipment maker reported an adjusted profit of $1.60 per share compared with $2.94 per share a year ago. Analysts surveyed by Refinitiv, on average, expected earnings of $1.69 per share. (Reporting by Rajesh Kumar Singh, editing by Louise Heavens)

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