After soaring over 15% in the post-Trump period, Caterpillar shares are halted this morning ahead of a presentation at Credit Suisse Annual Industrial Conference. The presentation shows cost cuts, layoffs, and admits that 2017 consensus estimates are "too optimistic."
Other highlights:
- CATERPILLAR ON TRACK FOR OVER $2B COST REDUCTION FOR 2016
- CAT: COST CUTS INCL COMBINED/REDUCED FUNCTIONS, FEWER PEOPLE
- CAT: FIRST CALL 2017 CONSENSUS ESTIMATE $3.25 TOO OPTIMISTIC
- CAT: FIRST CALL '17 CONSENSUS EST. $38B SALES TOO OPTIMISTIC
CAT Halted...
Re-opened...Buy the dip...
Full Presentation...
Caterpillar Presentation at Credit Suisse Investor Conference 2016 by zerohedge on Scribd
http://www.scribd.com/embeds/332911771/content
Link to Credit Suisse Webcast.