- Caterpillar Inc (NYSE:CAT) reported first-quarter FY23 adjusted earnings of $4.91 per share, compared to $2.88 a year ago, beating the consensus of $3.78.
- Revenues for the quarter rose 17% year-over-year to $15.9 billion, beating the consensus estimate of $15.25 billion.
- The increase was due to favorable price realization and higher sales volume, partially offset by unfavorable currency impacts primarily related to the euro, Japanese yen, and Australian dollar.
- Adjusted operating profit margin was 21.1%, compared to 13.7% in 1Q22.
- Machinery, Energy & Transportation segment revenue increased 17% Y/Y to $15.1 billion, with Construction Industries +10%, Resource Industries +21%, Energy & Transportation +24%, and Other Segments -6%.
- Financial Products’ segment revenues were $902 million (+15%), reflecting higher average financing rates across all regions.
- During the quarter, the divestiture of the company’s Longwall business was finalized, resulting in an unfavorable impact on an operating profit of $586 million.
- Enterprise operating cash flow was $1.6 billion for the quarter compared to $313 million in 1Q22, and the company ended the quarter with $6.8 billion of enterprise cash.
- Caterpillar paid dividends of $0.6 billion and repurchased $0.4 billion in stock during Q1.
- Price Action: CAT shares are trading higher by 0.10% at $216.40 in premarket on Thursday.
AquaBounty Techs: Q4 Earnings Insights
AquaBounty Techs (NASDAQ:AQB) reported its Q4 earnings results on Monday, April 1, 2024 at 08:00 AM. Here’s what…
