Caterpillar’s 3Q Profit Rises

Heavy equipment and diesel engine manufacturer Caterpillar Inc. said Friday its third-quarter profit jumped 21%, though it cut its full-year earnings outlook.

The company said it earned $927 million or $1.40 a share, up from $769 million or $1.14 a year ago.

Revenue rose 9% to $11.4 billion, an all-time quarterly record, Caterpillar said in a statement.

Caterpillar said it would earn $5.20 to $5.60 per share for the full year, down from a previous outlook of $5.30 to $5.80. Revenue will be about $44 billion, the company said.

The company was “able to more than offset the impact of the dramatic drop in on-highway truck engines and report record operating profit for engines,” Chairman and Chief Executive Officer Jim Owens said in a statement.