Caterpillar Q4 earnings miss as costs weigh
- Wall Street ends volatile week higher as Fed officials ease bank fears
- Deutsche Bank shares plunge after spike in credit default swaps
- 6-week inflows to bonds? Biggest ever; 7-day inflows to cash? $142.9 billion; Policy panic now 'inevitable' - BofA's Hartnett
- World stocks gyrate as bank contagion fears bite
- Activision (ATVI) gains 5% as UK's CMA narrows concerns scope in Microsoft (MSFT) deal
Get Alerts CAT Hot Sheet
EPS Growth %: +29.9%
Selling, general and administrative expenses: 992M
Today's EPS Names:
IDEX, CIG, NIE, More
Join SI Premium – FREE
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Caterpillar Inc. (NYSE: CAT) fell 2.5% in pre-open trading Tuesday after posting a strong top-line beat in its fourth quarter but adjusted EPS that missed consensus as costs weighed.
Sales and revenues for the fourth quarter rose 20% to $16.6 billion, beating the consensus of $15.82 billion. Full-year sales and revenues in 2022 were up 17% to $59.4 billion.
On the bottom line, the construction equipment maker posted adjusted EPS of $3.86, missing the consensus of $4.02. Results were impacted by unfavorable manufacturing costs largely reflected higher material costs, unfavorable cost absorption and increased period manufacturing costs.
"Our global team delivered one of the best years in our nearly 100-year history, including record full-year adjusted profit per share," said Chairman and CEO, Jim Umpleby. "Despite supply chain challenges, the team achieved double-digit top-line growth and generated strong ME&T free cash flow. We remain committed to serving our customers, executing our strategy and investing for long-term profitable growth."
Caterpillar returned $6.7 billion to shareholders through share repurchases and dividends in 2022.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ASLAN Pharmaceuticals (ASLN) Reports Q4, Provides Corporate Update
- ADMA Biologics (ADMA) Reports In-Line Q4 EPS; Offers Guidance
- lululemon athletica (LULU) stock to be 'on the move,' Citi opens upside 30-day catalyst watch ahead of earnings
Create E-mail Alert Related CategoriesEarnings, Hot Earnings, Hot List
Related EntitiesEarnings, Pre Market Movers
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!