General Motors and Caterpillar released the earnings results from their most recently completed quarters before opening bell this morning.

General Motors Company Misses Earnings Estimates, Caterpillar Inc. Ups Guidance

General Motors posted adjusted earnings of 86 cents per share on $35.7 billion in revenue for the first quarter. Analysts had been expecting earnings of 97 cents per share on $37.6 billion in sales. In the same quarter a year ago, revenue was $37.4 billion, while adjusted earnings were 29 cents per share.

Caterpillar reported adjusted earnings of $1.86 per share on sales of $12.7 billion, a 3.2% decline year over year. Analysts had been expecting earnings of $1.35 per share on sales of $12.48 billion. In the same quarter a year ago, adjusted earnings were $1.61 per share, while revenues were $13.24 billion.

Key metrics from General Motors’ earnings report

General Motors posted GAAP earnings of 56 cents per share. That included about 30 cents per share in net losses from special items. Net income in last year’s first quarter was 6 cents per share, including negative impacts from special items of 23 cents per share and recall-related costs of 48 cents per share.

General Motors reported adjusted EBIT of $2.1 billion, an increase of $0.3 billion year over year excluding recalls. The GM North America division recorded its best adjusted EBIT since 2009.

Key metrics from Caterpillar’s earnings report

Caterpillar’s net earnings were $1.81 per share, compared to $1.44 per share in the same quarter a year ago. The equipment manufacturer said its first quarter earnings included a gain of 14 cents per share from the sale of its stake in a logistics business. Also the earnings included a 5-cent per share negative impact for restructuring.

Management said Caterpillar’s Energy & Transportation segment brought strong results but that they don’t expect that to continue because of the business’ oil-related portion.

Because of the solid first quarter, Caterpillar also bumped up its earnings per share guidance to between $4.70 and $5 per share. The previous guidance was between $4.60 and $4.75 per share. The company still expects sales to be about $50 million for the full year.