Reportedly, Caterpillar, Inc. (CAT) enjoys a 14.3% rise in first-quarter revenue pushed by higher construction activity and a rise in commodity prices. Strong demand allowed the company to raise prices, protecting its margins, even though the company has been weighed down by production delays due to high raw material costs and immense supply chain disruptions. The construction and mining equipment giant posted adjusted quarterly earnings of $2.88 a share, exceeding the $2.61 average of analysts’ estimates. Revenue increased 14% to $13.6 billion, exceeding estimates. North American sales were boosted by higher-end user demand for equipment and parts from improving non-residential construction, however, sales in China slumped due to lower demand. The company informed that it expects margins to be better in the second half of the year compared to the first six months of 2022.
Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent. To learn more about Caterpillar, Inc. (CAT) and to continue to track its progress please visit the Vista Partners Caterpillar, Inc. Coverage Page.
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