Reportedly, Caterpillar, Inc. (CAT) reported Q4 earnings recently beating analyst estimates. The mining and construction equipment maker posted adjusted fourth-quarter earnings of $2.12 a share, above the $1.45 average of analysts’ estimates. Full-year revenue in 2020 was $41.7 billion, a 22% decrease from 2019, reflecting lower end-user demand and dealers reducing their inventories by $2.9 billion in 2020.
Caterpillar did not offer any full-year profit guidance, citing “continued uncertainty” due to the pandemic.
“Our expectations around the top line are for that to re-accelerate as we go into 2021. Over 2021, we would expect recovery.” stated Andrew Bonfield, Caterpillar’s chief financial officer referring to an improvement in sales.
Chief Executive Officer Jim Umpleby stated, “Our fourth-quarter and full-year results reflect the team’s agility in a challenging environment while executing our strategy for long-term profitable growth,” “We are well-positioned for the future and will emerge from the pandemic as an even stronger company.”
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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