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Why Caterpillar Stock Surged 21% in October

TheMotleyFool

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Heavy equipment manufacturer (NYSE: CAT) reported solid third-quarter results on Oct. 29, beating analyst estimates across the board and triggering a rally for the stock.

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Revenue rose 10% year over year to $17.6 billion, with the increase driven by higher equipment sales to end users. Adjusted earnings per share came in at $4.95, down from $5.17 in the prior-year period but still well ahead of analysts' expectations. EPS was negatively impacted during the third quarter by a higher effective tax rate and a discrete tax charge.

Source Fool.com