Dec 1 (Reuters) - Caterpillar Inc, the world’s largest construction and mining equipment maker, said Wall Street’s earnings expectations for 2017 were “too optimistic” as oil prices continued to remained volatile.
Analysts on average were expecting 2017 earnings of $3.25 per share and revenue of $38 billion, according to Thomson Reuters I/B/E/S.
However, the company said analysts' average sales estimate for 2017 was a reasonable midpoint expectation. (bit.ly/2gDe4x3)
The company said in October it did not expect 2017 to be very different from 2016. For 2016, the company had then forecast adjusted earnings of $3.25 per share and revenue of about $39 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)