Caterpillar (NYSE:CAT) announced on Monday that profits were higher due to record revenue and sales during the third quarter. The company earned $1.7 billion, or $2.54 per share, versus $1.1 billion, or $1.71 per share, in the same period last year. Sales were higher by 5 percent year-over-year to $16.4 billion. The company, however, lowered its 2012 profit outlook to a range of $9 to $9.25 per share and revenue of $66 billion due to a weaker global economy and fewer orders from dealers.
Shares are higher by about eight tenths of a percent.
VF Corporation (NYSE:VFC) announced that third-quarter net income increased by 27 percent. The company earned $381.3 million, or $3.42 per share, up from $300.7 million, or $2.69 per share, in the same period last year. Revenue increased by 14 percent to $3.12 billion from $2.73 billion, below estimates of $3.16 billion.
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