Dow 30 component, Caterpillar, Inc. (CAT) reported strong third-quarter earnings, which exceeded analysts’ expectations as demand for heavy machinery across the construction and mining sectors outweighed concerns of ongoing supply-chain hangups. The company reported adjusted quarterly profit of $2.66 a share, beating the $2.20 a share average of analysts’ estimates.
Demand for Caterpillar equipment remains solid from North America to Europe and the Middle East to most parts of Asia, and despite inflation, in materials and freight costs the company has been able to meet those costs through an increase in machine prices. The company expects a weak market in China and expects sales will drop in the final quarter of the year.
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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