As Q1 earnings season continues, more and more companies are starting to post their earnings results. Friday morning saw three industrial giants report their fiscal 2016 first quarter earnings: General Electric Company (GE - Analyst Report), Honeywell International (HON - Analyst Report), and Caterpillar, Inc. (CAT - Analyst Report).
Infrastructure and technology giant General Electric reported relatively modest Q1 results. The company reported operating earnings, including industrials and verticals, of $0.21 per share, which fell in line with the Zacks Consensus Estimate and improved 5% year-over-year.
Total consolidated revenue increased 6% year-over-year to $27.85 billion, missing our consensus estimate of $28.976 billion. As GE aims to build upon the momentum for a rise in operating profit, the company has reiterated its previous 2016 guidance.
General Electric Company (GE - Analyst Report) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany
Honeywell, a leading diversified technology and manufacturing company, saw strong Q1 results. Earnings per share came in at $1.53, beating the Zacks Consensus Estimate of $1.50 per share and reflecting a year-over-year increase of 9%.
Revenues of $9.52 billion topped our consensus estimate of $9.376 billion thanks to strong ACS commercial, residential, and Chinese business, sound aerospace trade, and increased sales of Fluorine Products and Process Solutions in PMT.
Honeywell International Inc. (HON - Analyst Report) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany
The largest construction company in the world, Caterpillar, reported Q1 adjusted earnings of $0.67 per share, missing our consensus estimate of $0.68 per share. Revenues came in at $9.46 billion, beating the Zacks Consensus Estimate but falling 25% from the year-ago period.
As a result of these weaker than expected results, Caterpillar has narrowed both its 2016 adjusted earnings and revenue outlooks to $3.70-$4.00 per share and $40 billion-$42 billion, respectively.
Caterpillar Inc. (CAT - Analyst Report) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany
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