October 24, 2017 / 12:10 PM / a month ago

BRIEF-Caterpillar reports Q3 EPS $1.77

Oct 24 (Reuters) - Caterpillar Inc

* Caterpillar reports third-quarter 2017 results

* Q3 earnings per share $1.77

* Q3 sales $11.41 billion versus I/B/E/S view $10.65 billion

* Q3 earnings per share view $1.27 -- Thomson Reuters I/B/E/S

* Sees FY 2017 adjusted earnings per share about $6.25

* Sees FY 2017 earnings per share about $4.60

* Q3 adjusted earnings per share $1.95 excluding items

* FY2017 earnings per share view $5.29 -- Thomson Reuters I/B/E/S

* ‍Company now expects full-year 2017 sales and revenues of about $44 billion​

* ‍Worldwide, full-time employment was about 96,700 at end of Q3 of 2017, about flat with end of Q3 of 2016​

* FY2017 revenue view $42.94 billion -- Thomson Reuters I/B/E/S

* Restructuring costs of $90 million in Q3 were primarily related to programs in resource industries and energy & transportation‍​

* ‍At end of Q3 of 2017, past dues at cat financial were 2.73 percent, compared with 2.77 percent at end of Q3 of 2016​

* Now expects to incur about $1.3 billion of restructuring costs in 2017, a slight increase from previous outlook of about $1.2 billion​

* Dealer machine and engine inventories increased about $200 million in Q3 versus decrease of about $700 million in the third quarter of 2016

* ‍“We are raising our 2017 profit outlook”​

* ‍As of September 30, CAT financial’s allowance for credit losses $343 million, compared with $346 million as of September 30, 2016​

* ‍Higher sales volume and focus on cost discipline resulted in improved profit margins across three primary segments in quarter​

* Changes in dealer inventories had a positive impact on sales from the third quarter of 2016 to the third quarter of 2017

* At end of Q3, order backlog was about $15.4 billion, increase of about $600 million from the end of the second quarter of 2017

* ‍For 2017, current outlook includes short-term incentive compensation expense of about $1.4 billion​

* Construction industries’ order backlog increased about $500 million, resource industries’ increased about $300 million at quarter-end

* Energy & transportation’s order backlog decreased about $200 million at quarter-end

* ‍Working with supply chain to increase production levels to satisfy customer demand for those markets that have improved​

* ‍In sept 2017, notified co’s dealers of a price action of 0 to 2 percent worldwide on most machines; price action to be effective jan 2018​

* In conjunction with planned January price action, co to implement change to machine pricing

* Change to machine pricing will result in a reduction to list prices with offsetting reductions to merchandising discounts Source text for Eikon: Further company coverage:

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