Caterpillar Q3 earnings leap, but outlook worsens

Oct 22, 2012, 7:50 AM EDT
A worker (R)gets out of a cab of an earthmoving Caterpillar machine at a construction site in downtown Washington, DC, on May 1, 2012. The world's largest maker of tractors and excavators said Monday that its third-quarter profit rose nearly 50%, but the outlook for the global economy was weaker than it had previously expected.
AFP/Getty Images/JEWEL SAMAD

Caterpillar, the world's largest maker of tractors and excavators, said its third-quarter profit rose nearly 50% due in part to higher sales in the U.S. and price increases. But the company trimmed its sales forecast for the full year to reflect global economic conditions that it says are weaker than it had previously expected. 

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