Caterpillar  Inc. (CAT - Free Report), the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, reported first-quarter 2018 results, wherein adjusted earnings of $2.82 surpassed the Zacks Consensus Estimate of $2.11 by a margin of 34%.

Revenue: Caterpillar posted revenues of $12.9 billion, handily beating the Zacks Consensus Estimate of $11.6 billion.

Earnings Estimates Revision: The Zacks Consensus Estimate for the first quarter has gone up 2% over the past 30 days. In the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average of nearly 52%.

Caterpillar Inc. Price and EPS Surprise

Caterpillar Inc. price-eps-surprise | Caterpillar Inc. Quote

Outlook: For 2018, Caterpillar projects adjusted earnings per share between $10.25 and $11.25, up from the prior guidance of $8.25 to $9.25 per share. This was driven by the upbeat first-quarter results and growing demand across all regions and most end markets.

Zacks Rank: Currently, Caterpillar carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. 

Market Reaction: Caterpillar shares gained 3.94% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.