(Corrects headline and lead to make clear Q4 profit hurt by commodity prices, 2015 outlook hurt by oil, date in dateline)
CHICAGO, Jan 27 (Reuters) - Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, as lower prices for copper, coal and iron ore hurt its mining business and warned the drop in oil prices would hurt its business in 2015.
The Peoria, Illinois-based company reported a fourth-quarter net profit of $757 million, down nearly 25 percent from $1.03 billion a year earlier.
Caterpillar reported earnings per share of $1.23, compared with $1.54 in the fourth quarter of 2013. Analysts had expected earnings per share for the quarter of $1.55. (Reporting by Nick Carey)