Great results from Caterpillar (NYSE: CAT) good read across for Titan Europe (LON:TSW)?
Great results from Caterpillar (NYSE: CAT) today with a highly positive outlook suggests that AIM quoted Titan Europe (LON:TSW), the maker of steel wheels and undercarriages for off highway vehicles, could also be benefiting; Caterpillar is a major client of TSW.
Caterpillar Inc. (NYSE: CAT) reported a third-quarter profit of $792 million, 96 percent higher than the third-quarter 2009 profit of $404 million. Profit per share was $1.22 (Consensus was $1.09), an increase from $0.64 per share in the third quarter of 2009. Sales and revenues of $11.134 billion were up 53 percent from $7.298 billion in the third quarter of 2009. Management commented that “Third-quarter results continue to demonstrate our focus on aggressively managing costs and improving cash flow, while continuing to ramp up production to meet customer demand. Continuing economic growth in the developing world has been key to…