Caterpillar put a lid on costs in the fourth quarter, pushing profits higher despite an 8 percent decline in revenue.
The strong profits, however, were overshadowed by an uncertain take on the year ahead with global growth slowing.
Shares slipped $1.06 to $134.31 in early trading Friday.
Net income rose 5 percent to $1.1 billion, or $1.97 per share, in the quarter ended in December, the manufacturer said Friday. Adjusted income totaled $2.63 per share, in line with Wall Street expectations, according to a survey by FactSet.
