Caterpillar lowers 2015 profit outlook

Construction equipment manufacturer Caterpillar has revised its 2015 profit-per-share outlook as global economic uncertainty continues.

The company had previously said it expected to earn US$ 15 to US$ 20 per share in 2015, but has now lowered this outlook to US$ 12 to US$ 18 per share on revenue of US$ 80 billion to US$ 100 billion.

Caterpillar Chairman and CEO Doug Oberhelman said, "There are a number of geopolitical and economic factors driving uncertainty in the world today, but our base case scenario calls for modest global economic growth over the next few years."

"Just as we have done in the past, Caterpillar is ready to act if we enter a recession. We don't think it's likely, but if it happens, we are prepared to react and would expect to remain attractively profitable and to maintain our dividend."

The revised forecast comes after the company reported a +67% year-on-year jump in net profit for the second quarter to US$ 1.7 billion, on revenues of US$ 17.3 billion - up +22% compared to the same period in 2011.