January 25, 2018 / 12:57 PM / 3 months ago

BRIEF-Caterpillar Posts Q4 Adjusted Earnings Per Share $2.16

Jan 25 (Reuters) - Caterpillar Inc:

* CATERPILLAR REPORTS FOURTH-QUARTER AND FULL-YEAR 2017 RESULTS; PROVIDES OUTLOOK FOR 2018

* Q4 LOSS PER SHARE $2.18

* Q4 SALES $12.9 BILLION VERSUS I/B/E/S VIEW $11.85 BILLION

* Q4 EARNINGS PER SHARE VIEW $1.71 — THOMSON REUTERS I/B/E/S

* SEES FY 2018 ADJUSTED EARNINGS PER SHARE $8.25 TO $9.25 EXCLUDING ITEMS

* FOURTH-QUARTER 2017 RESULTS INCLUDE A CHARGE OF $2.4 BILLION, OR $3.91 PER SHARE, FROM U.S. TAX REFORM LEGISLATION

* WORLDWIDE, FULL-TIME EMPLOYMENT WAS ABOUT 98,400 AT END OF 2017, AN INCREASE OF ABOUT 3,000 FULL-TIME EMPLOYEES FROM END OF 2016

* EXPECT GROWTH IN MANY END MARKETS IN 2018

* AT END OF 2017, PAST DUES AT CAT FINANCIAL WERE 2.78 PERCENT, COMPARED WITH 2.38 PERCENT AT END OF 2016

* CATERPILLAR SAYS IS “BEGINNING 2018 WITH STRONG SALES MOMENTUM RESULTING FROM STRONG ORDER RATES, LEAN DEALER INVENTORIES AND AN INCREASING BACKLOG”

* IMPLEMENTING NEW STRATEGY FOCUSED ON OPERATIONAL EXCELLENCE AND PROFITABLE GROWTH

* AS OF DECEMBER 31, 2017, CAT FINANCIAL’S ALLOWANCE FOR CREDIT LOSSES TOTALED $365 MILLION COMPARED WITH $343 MILLION

* BROAD-BASED SALES RECOVERY GAINED MOMENTUM IN Q4 OF 2017

* CATERPILLAR - CHANGES IN DEALER INVENTORIES HAD A POSITIVE IMPACT ON SALES FROM Q4 2016 TO Q4 2017

* EXCLUDING RESTRUCTURING COSTS OF ABOUT $400 MILLION, ADJUSTED PROFIT PER SHARE IS EXPECTED IN A RANGE OF $8.25 TO $9.25 FOR 2018

* EXPENSE FOR CORPORATE ITEMS AND ELIMINATIONS WAS $898 MILLION IN Q4 OF 2017, A DECREASE OF $683 MILLION FROM Q4 OF 2016

* CATERPILLAR - DEALER MACHINE AND ENGINE INVENTORIES WERE ABOUT FLAT IN Q4, COMPARED WITH DECREASE OF ABOUT $800 MILLION IN Q4 2016

* FY2018 EARNINGS PER SHARE VIEW $8.19 — THOMSON REUTERS I/B/E/S

* CATERPILLAR - AT Q4-END, ORDER BACKLOG WAS ABOUT $15.8 BILLION, UP ABOUT $400 MILLION FROM Q3-END

* CATERPILLAR - Q4 2017 EXPENSE WAS ABOUT $350 MILLION, COMPARED TO Q4 2016 EXPENSE OF ABOUT $50 MILLION

* IN 2018, EXPECT TO MAKE ADDITIONAL INVESTMENTS IN EXPANDED OFFERINGS AND SERVICES

* CATERPILLAR - SHARP INCREASE IN DEMAND IN 2017 LED TO RAMP-UP CHALLENGES FOR CERTAIN PRODUCTS DUE TO SUPPLIER CONSTRAINTS

* CATERPILLAR - DESPITE IMPROVEMENTS IN MATERIAL FLOWS IN H2 2017, PARTS & COMPONENTS CONSTRAINTS REMAIN ACROSS SOME PRODUCTS

* CATERPILLAR SAYS BELIEVES GLOBAL ECONOMIC MOMENTUM AND INCREASING COMMODITY PRICES ARE “RESTORING MINERS’ BUSINESS CONFIDENCE AND FINANCIAL HEALTH”

* CATERPILLAR - PARTS & COMPONENTS CONSTRAINTS COULD IMPACT CO’S GROWTH POTENTIAL IN 2018

* CATERPILLAR - “OUR PRIORITIES FOR CASH DEPLOYMENT HAVE NOT CHANGED”

* CATERPILLAR - COMPLETED EVALUATION OF NEW ACCOUNTING STANDARD ON REVENUE RECOGNITION & DO NOT EXPECT IMPACT TO BE MATERIAL

* CATERPILLAR - SEES GROWTH IN CONSTRUCTION INDUSTRIES IN 2018 WITH SOME TEMPERING IN LATTER PART OF YEAR, DUE TO ANTICIPATED SEASONALITY OF SALES IN CHINA

* CATERPILLAR - SALES INTO OIL & GAS APPLICATIONS EXPECTED TO RISE IN 2018, LED BY RECIPROCATING ENGINES FOR GAS COMPRESSION, WELL SERVICING IN N.AMERICA

* IN CONSTRUCTION INDUSTRIES, EXPECTS IMPROVEMENT IN NORTH AMERICAN RESIDENTIAL, NON-RESIDENTIAL AND INFRASTRUCTURE

* CATERPILLAR - COMPONENTS OF PENSION & OPEB COSTS, OTHER THAN SERVICE COSTS, TO BE RECLASSIFIED FROM OPERATING. COSTS TO OTHER INCOME/EXPENSE IN 2018

* CATERPILLAR SAYS “AFTER FOUR CHALLENGING YEARS, MANY KEY MARKETS IMPROVED IN 2017”

* CATERPILLAR SAYS ANTICIPATES MINERS’ CAPITAL SPEND TO INCREASE AS MINING BUSINESSES INVEST IN EQUIPMENT REPLACEMENT CYCLES IN 2018

* CATERPILLAR SAYS “STRONG GLOBAL DEMAND IS EXPECTED TO BE A POSITIVE FOR HEAVY CONSTRUCTION” IN 2018

* 2018 PROFIT OUTLOOK INCLUDES SHORT-TERM INCENTIVE COMPENSATION EXPENSE OF ABOUT $900 MILLION

* FINANCIAL PRODUCTS’ SEGMENT PROFIT IS EXPECTED TO BE LOWER IN 2018 THAN IN 2017

* ME&T CAPITAL EXPENDITURES ARE EXPECTED TO BE ABOUT $1.0 BILLION TO $1.5 BILLION IN 2018

* AN EXPECTED INCREASE IN SALES VOLUME IS “MOST SIGNIFICANT REASON FOR HIGHER PROFIT OUTLOOK” FOR 2018

* CATERPILLAR SAYS PROVISION FOR INCOME TAXES IN Q4 INCLUDES CHARGE OF $2.371 BILLION DUE TO ENACTMENT OF U.S. TAX REFORM LEGISLATION

* CATERPILLAR - SLIGHTLY FAVORABLE PRICE REALIZATION IS EXPECTED TO BE MOSTLY OFFSET BY MATERIAL COST INCREASES DUE TO HIGHER COMMODITY PRICES IN 2018

* THERE ARE POSITIVE ECONOMIC INDICATORS ACROSS MOST OF WORLD AND IN MANY OF COMPANY’S END MARKETS Source text for Eikon: Further company coverage:

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