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Cat Stock

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business2 years ago•3 min saved

Caterpillar's Q3 Success Overshadowed by Stock Slide and Demand Concerns

Caterpillar (CAT) reported strong Q3 earnings that exceeded expectations, with revenue growing 12% to $16.81 billion. However, the company's order backlog fell sharply, causing CAT stock to slide. Wall Street is concerned about the declining backlog, as well as the potential impact of inflation and rising mortgage rates on Caterpillar's construction business. Despite the positive earnings, Caterpillar expects a lower operating margin in Q4 and anticipates only slight sales growth. CAT stock has fallen 16% this year, underperforming the Dow Jones Industrial Average.

via Investor's Business Daily|

#business #cat-stock #caterpillar

business2 years ago•4 min saved

Caterpillar's Earnings and Sales Performance Amid Economic Concerns

Caterpillar (CAT) reported second-quarter earnings that exceeded estimates, with EPS leaping 75% to $5.55 a share and sales growing 22% to $17.32 billion. The company's bullish guidance on margins and positive outlook for the full year contributed to a rise in CAT stock, which climbed beyond a buy zone and set a record close. Caterpillar's business is thriving due to increased manufacturing, mining, and infrastructure projects supported by a $1 trillion federal windfall. The company expects Q3 sales to be lower than Q2 levels but anticipates full-year adjusted operating profit to be close to the top end of its target range, indicating potential for profit margins to approach or exceed 19%.

via Investor's Business Daily|

#business #cat-stock #caterpillar