Reportedly, Caterpillar, Inc. (CAT) beat fourth-quarterly revenue estimates boosted by the sustained demand for its heavy machinery and construction equipment as global economic activity recovers from pandemic lows. The company’s decision to raise equipment prices leveled the impact of global supply chain disruptions triggered by the pandemic and inflationary cost pressures.
Total revenue increased 23% to $13.80 billion in the fourth quarter ended Dec. 31, ahead of analysts’ average estimate of $13.15 billion. Caterpillar earned a profit of $2.12 billion compared to $780 million a year ago, with an adjusted EPS of $2.69 per share, exceeding analysts’ estimates for $2.26 a share.
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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