CAT - Why Is Equipment Giant Caterpillar Stock Plunging Today? | Benzinga
Caterpillar Inc (NYSE:CAT) reported a first-quarter fiscal 2024 revenue of $15.8 billion, a slight decrease of 0.4% year-over-year, missing the consensus of $16.216 billion.
CAT’s adjusted earnings of $5.60 per share, compared to $4.91 a year ago, topped the consensus of $5.14.
Sales dropped due to reduced equipment sales, somewhat mitigated by favorable pricing and increased Financial Products’ revenues; adverse currency impacts, mainly from the Australian dollar, also affected overall sales.
Adjusted operating profit margin was 22.2% for the quarter, compared ...