caterpillar
New York (AFP) - Caterpillar reported a jump in profits Thursday as strong pricing for industrial machinery made up for lower volumes, enabling record shareholder payouts. Executives expect the benefit of the price increases -- which were implemented in the second half of 2023 -- to continue but "moderate" as the year progresses, said Chief Financial officer Andrew Bonfield on a conference call with analysts. The company sees costs as "broadly flattish" for the year, with lower freight expenses compensating for increases elsewhere, Bonfield said. Caterpillar, which manufactures and sells equip...
AFP
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New York (AFP) - Caterpillar reported higher profits Tuesday behind strong pricing trends, especially in its home North America market, which led revenue growth. The industrial giant -- which manufacturers construction and mining equipment and other heavy goods -- reported a $2.8 billion profit, up 37 percent from the year-ago period. Revenues rose 12 percent to $16.8 billion at the company, seen as a bellwether among US industrials. Executives pointed to increased US government spending on infrastructure as a driver of robust construction spending along with greater investment in residential ...
AFP
Caterpillar, Inc. (NYSE:CAT) stock is up nearly 8% in early trading after the company blew past revenue and earnings expectations. The question will be whether the report will be enough to move analyst sentiment which, while generally positive, suggests that these results are priced into the stock. Key Points Caterpillar stock is soaring after the company reported earnings that were 21% higher than estimates.The company’s forecast, however, lends credence to market bears who believe that the company’s stimulus-driven growth is unsustainable.CAT stock is serving as a proxy for what many investo...
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New York (AFP) - Caterpillar reported strong second-quarter profits Tuesday behind robust demand for industrial equipment and an improving cost environment that boosted profit margins. The company -- an industrial bellwether tied to the construction, mining, energy and other sectors -- also offered an upbeat forecast, saying that 2023 profit margins would be "close to the top" of the forecast. Chief Executive Jim Umpleby said the results reflected "healthy demand across most end markets" for Caterpillar machines. "We're closely monitoring economic conditions, but we do feel good about the busi...
AFP
Activists Request An Audit Of Caterpillar’s DEI InitiativesFEP’s proposal at Caterpillar (Proposal #9) requests that the Board of Directors commission an audit analyzing the impacts of its DEI policies on civil rights, non-discrimination, returns to merit, and Caterpillar’s business overall. The proposal also requests that a report on the audit be made available on Caterpillar’s website. “Under the guise of ESG, corporations have allocated significant resources and attention toward implementing social justice into the workplace,” said FEP Associate Ethan Peck. “Across the political spectrum, a...
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New York (AFP) - Caterpillar reported higher profits Thursday and offered an upbeat outlook on industrial conditions, but shares fell amid worries over weakening global growth. The maker of equipment for the construction, oil and gas and mining sectors reported $1.9 billion in profits in the first quarter, up 26 percent from the year-ago period on a 17 percent jump in revenues to $15.9 billion. "We have a healthy level of demand," Chief Executive Jim Umpleby said on a conference call with analysts. "We feel good about the market conditions." Revenues rose across Caterpillar's three industrial ...
AFP
Caterpillar advanced 41.28% in the past three months and 19.16% year-to-date.That’s ahead of the S&P 500’s gain of 2.47% in the past three months and its decline of 18.68% year-to-date.Meanwhile, Deere is up 26.57% in the past three months and 29.76% year-to-date.5 stocks we like better than CaterpillarYou may think of equipment makers Caterpillar Inc. (NYSE:CAT) and Deere & Company (NYSE:DE) as literally moving slowly, but these heavy equipment stocks outran the S&P 500 throughout 2022 and pulled into a sprint to end the year. Q3 2022 hedge fund letters, conferences and more Find A Qualified ...
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New York (AFP) - Caterpillar reported a jump in fourth-quarter earnings Friday on surging demand for industrial equipment, but warned that supply chain problems will probably continue to weigh on results in 2022. The company, which manufactures and sells equipment to heavy industries such as construction and mining, saw higher sales across its businesses amid broad-based demand growth. But Chief Executive Jim Umpleby said on a conference call with analysts that the company's revenues would have been even higher had it not faced supply chain problems that pinched production. Umpleby said the co...
AFP
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