Caterpillar Inc. said its second-quarter normalized net income came to $1.11 per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.
EPS decreased 26.4% year over year from $1.51.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $676.5 million, a decrease of 29.6% from $960.8 million in the prior-year period.
The normalized profit margin declined to 6.1% from 6.8% in the year-earlier period.
Total revenue declined 13.0% on an annual basis to $12.32 billion from $14.15 billion, and total operating expenses fell 11.6% from the prior-year period to $11.09 billion from $12.55 billion.
Reported net income fell 29.3% from the prior-year period to $708.4 million, or $1.16 per share, from $1.00 billion, or $1.57 per share.
