April 24, 2018 / 12:44 PM / 5 months ago

BRIEF-Caterpillar Q1 Adj. EPS $2.82

April 24 (Reuters) - Caterpillar Inc:

* CATERPILLAR REPORTS FIRST-QUARTER 2018 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $2.82

* Q1 SALES $12.9 BILLION VERSUS I/B/E/S VIEW $12.07 BILLION

* Q1 EARNINGS PER SHARE VIEW $2.13 — THOMSON REUTERS I/B/E/S

* SEES FY 2018 EARNINGS PER SHARE $9.75 TO $10.75

* RAISED FULL-YEAR PROFIT PER SHARE OUTLOOK

* “BASED ON OUR STRONG FIRST-QUARTER RESULTS AND HIGHER DEMAND ACROSS ALL REGIONS AND MOST END MARKETS, WE ARE RAISING OUR OUTLOOK FOR 2018”

* CATERPILLAR WORLDWIDE FULL-TIME EMPLOYMENT WAS ABOUT 99,700 AT END OF Q1 OF 2018

* DEALER MACHINE AND ENGINE INVENTORIES INCREASED ABOUT $1.2 BILLION IN Q1 2018, VERSUS INCREASE OF ABOUT $200 MILLION IN Q1 OF 2017

* AT END OF Q1 OF 2018, ORDER BACKLOG WAS ABOUT $17.5 BILLION, AN INCREASE OF ABOUT $1.7 BILLION FROM END OF 2017

* “WE CONTINUE TO WORK WITH OUR GLOBAL SUPPLIERS TO RESPOND TO SIGNIFICANT INCREASES IN DEMAND”

* AT END OF Q1 OF 2018, PAST DUES AT CAT FINANCIAL WERE 3.17 PERCENT, COMPARED WITH 2.64 PERCENT AT END OF Q1 OF 2017

* REVISED OUTLOOK RANGE FOR ADJUSTED PROFIT IS $10.25 TO $11.25 PER SHARE FOR FY

* AS OF MARCH 31, 2018, CAT FINANCIAL’S ALLOWANCE FOR CREDIT LOSSES TOTALED $403 MILLION, COMPARED WITH $346 MILLION AT MARCH 31, 2017

* FY OUTLOOK INCLUDES ABOUT $400 MILLION OF RESTRUCTURING COSTS, UNCHANGED FROM PREVIOUS OUTLOOK

* WITH RESPECT TO SUPPLIERS, ALTHOUGH CONSTRAINTS REMAIN FOR SOME PARTS & COMPONENTS, CO SEEING IMPROVEMENTS IN MATERIAL FLOWS

* “ALTHOUGH CONSTRAINTS REMAIN FOR SOME PARTS AND COMPONENTS, WE ARE SEEING IMPROVEMENTS IN MATERIAL FLOWS”

* 2018 SHORT-TERM INCENTIVE COMPENSATION EXPENSE IS NOW EXPECTED TO BE ABOUT $1.4 BILLION, NEARLY THE SAME AS 2017

* IMPROVED PRICE REALIZATION IN 2018 EXPECTED TO BE PARTIALLY OFFSET BY MATERIAL COST INCREASES PRIMARILY DRIVEN BY HIGHER COMMODITY PRICES

* SAYS BELIEVES GLOBAL ECONOMIC CONDITIONS AND FAVORABLE COMMODITY PRICE LEVELS WILL DRIVE MINERS TO INCREASE CAPITAL EXPENDITURES IN 2018

* SAYS STRONG GLOBAL DEMAND FOR COMMODITIES IS EXPECTED TO BE A POSITIVE FOR HEAVY CONSTRUCTION AND QUARRY AND AGGREGATE CUSTOMERS

* IN CONSTRUCTION INDUSTRIES, SEES BROAD-BASED GROWTH IN ALL REGIONS IN 2018

* FY2018 EARNINGS PER SHARE VIEW $9.28 — THOMSON REUTERS I/B/E/S

* FOR ENERGY & TRANSPORTATION, SALES INTO OIL & GAS APPLICATIONS SEEN INCREASING IN 2018

* INCREASING 2018 PROFIT OUTLOOK BY $2.00 PER SHARE TO A RANGE OF $9.75 TO $10.75 PER SHARE Source text for Eikon: Further company coverage:

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