Caterpillar cuts 2016 sales, earnings outlook, first-quarter profit slumps

Workers walk past Caterpillar excavator machines at a factory in Gosselies February 28, 2013. REUTERS/Eric VidalMore(Reuters) – Caterpillar Inc. <CAT.N> on Friday chopped its 2016 earnings outlook and posted a lower first-quarter operating profit, reeling from a fall in revenue in its construction, oil and gas and rail business segments.
Caterpillar now expects 2016 earnings per share at $3.00, or $3.70 per share excluding restructuring costs. The previous forecast was $3.50 per shar