Caterpillar tops quarterly profit estimates, maintains annual growth forecast
CAT•Caterpillar reported third-quarter adjusted earnings of $7.20 per share and revenue of $20.7 billion, beating estimates, while maintaining its full-year sales growth outlook at the mid-to-high teens. Its shares fell about 9% in premarket trading.
1. Quarterly results
Caterpillar’s third-quarter revenue rose 17% to $20.7 billion, above analysts’ $20.55 billion estimate. Adjusted profit was $7.20 per share, compared with $4.95 a year earlier and the $7.08 analysts expected. The quarter’s operating profit included $128 million in benefits related to IEEPA tariff recoveries.
2. Outlook maintained
The company kept its full-year sales growth forecast at the mid-to-high teens, unchanged from the previous quarter. Demand for backup power equipment has benefited from data center expansion, while concerns about opposition to data centers and the returns on AI-related spending have weighed on investor sentiment; shares were down about 9% in premarket trading.
