Caterpillar profit meets outlook

Caterpillar’s first-quarter adjusted profit met Wall Street’s view, even as sales declined across various categories. For the three months ended March 31, Caterpillar earned US$271 million, or US46 cents per share. A year earlier it earned US$1.25 billion (US$2.03). It said Friday it foresees a full-year adjusted profit of US$3.70 per share, down from its prior outlook of US$4 per share.