Caterpillar (CAT) beats earnings and revenue expectations, shares slide
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Caterpillar's shares fall on fears demand may have peaked
April 27, 2023 6:42 AM EDTBy Bianca Flowers and Aishwarya Nair
(Reuters) -Heavy machinery maker Caterpillar Inc topped Wall Street expectations with a 31% rise in profit on Thursday but a flat order backlog left analysts thinking demand may have peaked and the shares tumbled.
Profit in the first quarter was lifted by a boost in U.S. infrastructure spending which kept order books full and the company was able to raise prices to soften the hit from higher costs.
But the shares fell as much as 4.7% in... More
Caterpillar (CAT) Tops Q1 EPS by $1.11, Revenue Beats
April 27, 2023 6:32 AM EDTCaterpillar (NYSE: CAT) reported Q1 EPS of $4.91, $1.11 better than the analyst estimate of $3.80. Revenue for the quarter came in at $15.9 billion versus the consensus estimate of $15.1 billion.
For earnings history and earnings-related data on Caterpillar (CAT) click here.
... MoreCaterpillar (CAT) April weekly 217.50 straddle into quarter results
April 27, 2023 2:57 AM EDTCaterpillar (NYSE: CAT) April weekly 217.50 straddle is priced for a move of 4.5% into the expected release of quarter results today before the bell.
... More