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Caterpillar Q1 profit falls YOY

Caterpillar Inc. said its first-quarter normalized net income came to $1.49 per share, compared with the S&P Capital IQ consensus estimate of $1.36 per share.

EPS rose year over year from $1.44.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $914.5 million, compared with $920.8 million in the year-earlier period.

The normalized profit margin increased to 8.2% from 7.0% in the year-earlier period.

Total revenue declined year over year to $12.70 billion from $13.24 billion, and total operating expenses declined on an annual basis to $11.14 billion from $11.68 billion.

Reported net income rose 20.5% from the prior-year period to $1.11 billion, or $1.81 per share, from $920.6 million, or $1.44 per share.