Caterpillar, Deere inventories in focus as machinery demand plateaus
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Caterpillar (CAT) tops earnings expectations but sales volume declines
April 25, 2024 6:39 AM EDTCaterpillar (NYSE: CAT) reported a mixed first quarter of 2024, with earnings surpassing analyst expectations but revenue falling short, causing its stock to slide 1.8%. The company announced an adjusted profit per share of $5.60, exceeding the consensus estimate by $0.46. However, revenue for the quarter was $15.8 billion, not meeting the $16 billion analysts had anticipated.
The machinery giant experienced a relatively flat revenue compared to the first quarter of the previous year,... More
