Caterpillar Stock Hits Record High on Robust Q4 Earnings, Construction Boom
CATCaterpillar(CAT) InvestorPlace·2024-02-05 21:12

Shares of Caterpillar (NYSE:CAT), a leading construction and mining equipment manufacturer, surged to an all-time high on Monday after the company reported robust fourth-quarter earnings. Earnings per share of 5.23beatWallStreetsforecastof5.23 beat Wall Street’s forecast of 4.75 by 10%, while revenue of $17.1 billion met expectations. Management credited its strong performance to higher sales of equipment. Operating profit margins also increased from 10.1% to 18.4% on favorable pricing. “[We] achieved the best year in our 98-year his ...