Caterpillar swings to 4Q profit, but still falls short

Caterpillar swings to 4Q profit, but still falls short
In this Monday, July 24, 2017, photo, Caterpillar loaders are parked in Middleton, Mass. Caterpillar Inc. reports financial results Monday, Jan. 28, 2019. (AP Photo/Elise Amendola)

DEERFIELD, Ill. (AP) — Caterpillar swung to a fourth-quarter profit but is still far short of Wall Street projections and shares are falling before the opening bell.

The company took a hit during the same quarter last year on a hefty charge related to tax reform.

The construction equipment company earned .05 billion, or .78 per share. A year earlier the Deerfield, Illinois, company lost .3 billion, or .18 per share.

Stripping out restructuring costs and other items, earnings were .55 per share, 43 cents short of analyst expectations.

Shares tumbled 6 percent in premarket trading Monday.

Revenue climbed to .34 billion, .9 billion, led by increased sales in its resource industries segment.

Caterpillar Inc. anticipates 2019 earnings in a range of .75 to .75, in line with expectations.