Caterpillar's Stock Hits Record High with Strong Earnings Performance

Caterpillar's stock surged to record highs after reporting fourth-quarter profits that exceeded expectations, driven by strong performance in its energy and transportation business. The company's full-year sales reached a historic high, reflecting increased volume and higher prices. The stock jumped 4.1% in premarket trading and contributed to a significant boost in the Dow Jones Industrial Average. Caterpillar's net income for the quarter rose to $2.68 billion, with adjusted earnings per share beating consensus. The company's revenue grew 2.8%, driven by higher prices and favorable currency translation, while operating profit margin improved to 18.4%.