=Caterpillar (CAT) reported earnings on Tue 23 Oct 2018 (b/o)

Caterpillar beats by $0.01, beats on revs; reaffirms FY18 EPS guidance

• Reports Q3 (Sep) earnings of $2.86 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $2.85; revenues rose 18.4% year/year to $13.51 bln vs the $13.28 bln S&P Capital IQ Consensus.
• Co reaffirms guidance for FY18, sees EPS of $11-12, excluding non-recurring items, vs. $11.66 S&P Capital IQ Consensus. 
• Most end markets continue to improve. Order rates and backlog remain healthy.
• In the fourth quarter, price realization, operational excellence and cost discipline are expected to more than offset higher material and freight costs, including tariffs.
• At the end of the third quarter of 2018, the order backlog was $17.3 billion, about $400 million lower than the second quarter of 2018, with decreases across the three primary segments.