Equity Analyst

Gervin Gayan

Analyst at LightStream Research covering Asian equities, along with thematic research.

Can CAT’s Strong Start, Help to Achieve Revised FY18 Guidance?

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

CAT Results in 2QFY18 Exceed Impressive 1QFY18 Numbers
In 2QFY18 Caterpillar recorded revenue of USD14bn (+24% YoY) and adjusted earnings per share (EPS) increased to USD2.97 from USD1.49 in 2QFY17, exceeding the already high level recorded in 1QFY18 (USD2.82). During the earning call made in 1QFY18, Caterpillar’s CFO Brad Halverson’s said that “The outlook assumes that first-quarter adjusted profit per share will be the high-water mark for the year” but 2QFY18 EPS beat 1QFY18.
CAT’s Revenue by…

CAT Results in 2QFY18 Exceed Impressive 1QFY18 Numbers
In 2QFY18 Caterpillar recorded revenue of USD14bn (+24% YoY) and adjusted earnings per share (EPS) increased to USD2.97 from USD1.49 in 2QFY17, exceeding the already high level recorded in 1QFY18 (USD2.82). During the earning call made in 1QFY18, Caterpillar’s CFO Brad Halverson’s said that “The outlook assumes that first-quarter adjusted profit per share will be the high-water mark for the year” but 2QFY18 EPS beat 1QFY18.
CAT’s Revenue by…

Caterpillar (CAT) - Earnings Strength Suggests Cycle Peak Is Still a Few Quarters Away

Caterpillar Inc

Caterpillar (CAT) - Earnings Strength Suggests Cycle Peak Is Still a Few Quarters Away